Online Gambling Causes Tax Confusion For Pittsburghers
Posted on February 16, 2008 | 51 Views
Related Categories: Gambling
When it comes to Internet gambling sites, the Pennsylvania Attorney General's office recommends residents stay away from them because federal and state laws right now are complex when it comes to online gambling.
Channel 11 has gotten questions from viewers about what the IRS rules are when it comes to gambling online.
Betty Stringer was stunned and confused when she got a tax notification from Worldwinner.com. Stringer had won a total of $1,079 in 2007 and that it had been reported to the IRS.
Stringer said, "It says you have to pay taxes. I said excuse me, for what? I couldn't figure out what I had to pay taxes on. I never took any cash out of there."
Stringer said the couple dollars she'd won she just kept putting right back into the game account, not keeping track and never considering it money won especially since she never had more than $10 or $20 in her game account. She never received a dime.
Peter Habib, a CPA said, "Any dollar earned should be reported to the IRS." Continue
Comments
There are no comments for this entry.