SOCIAL SECURITY CARD - IRS - BIG WINS

I never really gave this much thought and if I am asking this question I obviously have yet to
be a big winner. I always hear if you win $1200 ( Right ) you have to fill out papers to get
taxed. I recently was over hearing a story where someone was not getting paid because
they did not have their Social Security card on them. Personally I guard my SSN and it is NOT
on my Drivers L and I never carry it on me. Does anyone know exactly how much do you
have to win to fill out tax papers and more importantly do you have to have your SS card
with you. I am sure this would be useful to a lot of others like me waiting to win out there.
Thanks a lot ---------Vegas in 6 weeks
You don't have to show your SS card. You do have to give them orally your number. $1200 and over on slots and VP require 1099s. Anything less than $10,000 on blackjack require no SS number. Hope this helps and you get a chance to give them your number. .
Most casino's give you the W2G form for wins on slots. You should be keeping a "players log" of your play by session for the IRS. You need to show both wins and losses. The IRS can "estimate" your win or loss should you not have your player logs for the audit.

Casino year end reports (you have to request it from the casino) are not acceptable as a record for audits. Casino year end reports are not a "generally accepted accounting document" as they vary from casino to casino.
W-2's for slot wins and 1099s for tournaments is my experience. On slots, anything $1200 and over.
Have been thru one audit with W-2's and the win/loss stmts did the job...of course I showed an overall win of about 25% of the W-2's, so they were happy.
They fill out the paperwork for you, you just give them your number (if they don't already have it on file) and sign the form when they bring it to you with the money. They have always taken my drivers license to fill out the form (no SSN on it).
Of course, I've always had a backup in the form of my retired military ID, which has the SSN on it.

Thank you for the responses.

Now all I need to do is WIN.

I was concerned and you put my mind at rest.
The SSA actually discourages the carrying of a SSN card anywhere.
No casino requires it.

If you don't have any ID, they will hold it for you until you return with ID.
That might be what you were hearing about. The person had no ID at all.

I'm thinking that also in that case they can give you the money minus the maximun taxable amount, like 35%, but not sure about that.
Already a LVA subscriber?
To continue reading, choose an option below:
Diamond Membership
$3 per month
Unlimited access to LVA website
Exclusive subscriber-only content
Limited Member Rewards Online
Join Now
or
Platinum Membership
$50 per year
Unlimited access to LVA website
Exclusive subscriber-only content
Exclusive Member Rewards Book
Join Now