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Message: [QUOTE="dmorris68, post: 1289724, member: 40397"] IANAL but that is bogus information, unless they're talking about your [I]total income for the year, from all sources,[/I] for which there is a threshold where you don't have to file taxes, basically (don't recall if it's $1200 or what). There is so much tax misinformation floating around out there that you should *NEVER* take tax advice from anyone (including me) who is not a tax professional. That disclaimer out of the way, there is a $600 reporting threshold that requires THE PAYOR to issue you a 1099 and report the income to the IRS. That has [U]nothing[/U] to do with your own responsibility as the recipient to report it. As a contrived example, if you make $10 mowing someone's lawn, you're legally obligated to report it even though it won't likely change your tax liability. Of course almost nobody would report $10, as there's likely to be no record of it and the IRS wouldn't go after somebody for $10, but the point stands that it's legally required to report ALL taxable income. I have reported interest earned on small accounts I've held where the total interest was like $3.86 for the year. Hey, I got a form for it, I'm not going to go out of my way to raise an audit flag for not reporting something that possibly got sent to the IRS too, no matter how silly. Now whether or not you have to actually pay taxes depends entirely on your total tax situation, including total income, deductions, credits, etc etc. This is a totally unsubstantiated, blanket statement but I expect the majority of players/gamblers don't report all of their winnings that aren't accounted for and reported by their casinos or banks. Especially when dealing with offshore facilities. If/when online poker becomes legal, regulated, and licensed in the US, rest assured there will be mechanisms in place to report those winnings, so tax revenue will increase dramatically but I wonder how many people will be driven away. It's kinda like having a super-rake on top of rake -- typical rake at low-mid stakes tops out at, what, ~10%? Taxes could be as high as 38% or whatever -- now you'll have to maintain a much higher winrate to maintain an equivalent "take home" income, which may not prove worthwhile to many that are right on the edge. [/QUOTE]

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