Casino Winnings & WG2

[messy]

I was on the Breakaway in February 2015 and won a small jackpot of around $1600. When the casino paid me they gave me a WG2 form that is needed to report the winnings.

 

My problem is I can't find the darn thing now. I have written to the email address that NCL provided but have not received a response or an acknowledgement that they received my request. This is VERY frustrating.

 

Does anyone have any suggestions on who/how to contact the appropriate folks. I like to get my filing done as early as possible.

 

Any suggestions are appreciated.

 

Marisa

Edited January 28, 2016 by messy
Typo

[disfan13]

Did they take taxes out at the time you were paid? I hit playing cards on CCL once - they TOOK the taxes out before they paid me. I received a W2G in the mail from Carnival Corp. Bit this was a couple of years ago..

[LrgPizza]

I googled for you, and found this. If you read it, it also includes an email address you can use:

 

https://www.ncl.com/sites/default/files/Win_Loss_Request_03192012.pdf

[EyeSeaEwe]

You actually DO NOT need that form to report your winnings. You need to report ALL gambling winnings whether or not it meets one of the many thresholds for being issued a W2G. All gambling winning are fully taxable and you can also claim all gambling losses (up to but not exceeding the amount of winnings, if you can document the losses). The W2G is only a reporting mechanism for the person/group/etc paying the winnings.

[borisivan]

Hmm. I won $1500 playing let it ride last year @ royal Caribbean's Quantum of the Seas. Last night of the 10 day cruise -- in the Casino ~ midnight.... bang!

 

Didn't fill out any form, or take in to any other consideration since.

[disfan13]

Hmm. I won $1500 playing let it ride last year @ royal Caribbean's Quantum of the Seas. Last night of the 10 day cruise -- in the Casino ~ midnight.... bang!

 

Didn't fill out any form, or take in to any other consideration since.

It depends on the odd's of your hand. I won $4K. The W2G was mailed to the IRS.

[messy]

I need the information off the WG2 in order to report the winnings. I have had other winnings in the past and always received a WG2 form for any winnings over $1200. This is the first time I've lost the form.

 

They didn't take taxes out - didn't give me a choice at the time.

 

Thanks for the link - that is what I submitted and have not had a response yet.

 

Marisa

[EyeSeaEwe]

Hmm. I won $1500 playing let it ride last year @ royal Caribbean's Quantum of the Seas. Last night of the 10 day cruise -- in the Casino ~ midnight.... bang!

 

Didn't fill out any form, or take in to any other consideration since.

 

 

The amount you win is only one of many things that can trigger the need for the payor to issue a W2G. The odds of winning the prize is another trigger. To most casinos $1500 is a small amount and is normally below all thresholds to require tax documentation. As I said earlier that is a different matter than the obligation of the winner to report the winning as taxable income.

[EyeSeaEwe]

It depends on the odds, not the amount. My odd's were 200 to 1. If you are a US citizen - they take 25%, took it prior to handing me my $$ - I received a W2g And one was sent to the IRS from Carnival Corp. I know this because I was contacted by the FED that they wanted proof that I paid the taxes at the time of the winnings. My copy from CCL had that info - I guess the copy they sent the IRS did not.

 

 

It can be the amount as well as the odds. Also the casino is not required to withhold anything. I have seen instances of people winning in excess of $12k on a bet with odds in excess of 400:1. Tax documentation was issues but the full winning amount was immediately paid. My years of work as a CPA keeps me up to date on the related laws (although I retired from CPA work a while ago).

[Moby0215]

The amount you win is only one of many things that can trigger the need for the payor to issue a W2G. The odds of winning the prize is another trigger. To most casinos $1500 is a small amount and is normally below all thresholds to require tax documentation. As I said earlier that is a different matter than the obligation of the winner to report the winning as taxable income.

 

 

Any amount over $1199 will trigger a W2G in any of the casinos in Atlantic city or Vegas as well as I believe in NCL ships.

 

 

Sent from my iPhone using Tapatalk

[electro]

So what do they do for Canadians? Not that I ever win anything.

[Minoushka]

So what do they do for Canadians? Not that I ever win anything.

 

I won gave it all to me with passport ..no taxes for canadians

[SuiteCruiser]

I won gave it all to me with passport ..no taxes for canadians

 

Me too. I dreamt I won $16K, so put my drivers license in with my chips, when I hit $1900 on a slot machine, they looked at it, and handed off the full amount.

 

For those who don't know, Canadians don't pay taxes on gambling winnings or lottery winnings.

Edited January 28, 2016 by SuiteCruiser

[NMLady]

Any amount over $1199 will trigger a W2G in any of the casinos in Atlantic city or Vegas as well as I believe in NCL ships.

 

 

Sent from my iPhone using Tapatalk

 

That is for slot machines. If you are playing table games the tax amount depends on the odds.

[cincicruisers]

If you are not required to report the winning why do they give you a tax form?

[Automation]

$1200 and higher, on a single hit, triggers a W2G. This is true for A.C., Vegas, Connecticut, Florida, and others including NCL. If you cash out multiple wins that exceed $1200 there is no W2G.

[Demonyte]

No they can't. That is urban myth. There is no way to identify a given person to an IP address. At best an IP address can be used to identify a general location, but it can't even 100% identify a specific computer let alone a specific person.

 

Sure there is. They just issue a warrant for your ISP to give out customer info on the user of specific IP-address on specific time.

 

Granted, that only gives you the owner of the account but if devices are connected directly to ISP's router, they can also identify the exact device by the hardware address.

Edited January 29, 2016 by Demonyte

[Froggitt]

$1200 and higher, on a single hit, triggers a W2G. This is true for A.C., Vegas, Connecticut, Florida, and others including NCL. If you cash out multiple wins that exceed $1200 there is no W2G.

 

Why does NCL feel the need to report $1200 winnings on a ship registered in some tax haven and sailing in international waters that could be the other side of the world to the US?

[Automation]

They do.

Why? I don't know the laws exactly.

Maybe it's the Same reason I get one gambling on sovereign Indian reservation.

If you work abroad, you still have tax obligations in the U.S. (I see you are in England, don't mean you specifically)

Edited January 29, 2016 by Automation

[Froggitt]

If you win say $10,000 equivalent in a casino in the UK, do you have to declare it to the US taxman? As far as the UK is concerned, there is no liability whatsoever, for both UK and non-UK citizens and residents.

[Shawnino]

If you win say $10,000 equivalent in a casino in the UK, do you have to declare it to the US taxman? As far as the UK is concerned, there is no liability whatsoever, for both UK and non-UK citizens and residents.

 

Americans do need to declare by law.

Amnesia rates are shockingly high...

[Automation]

I don't know for sure, but I believe the IRS would say yes.

BTW, the casinos at sea web page states that all slot wins $1200 and up are subject to a W2G.

[zqvol]

I need the information off the WG2 in order to report the winnings. I have had other winnings in the past and always received a WG2 form for any winnings over $1200. This is the first time I've lost the form.

 

They didn't take taxes out - didn't give me a choice at the time.

 

Thanks for the link - that is what I submitted and have not had a response yet.

 

Marisa

 

 

If you know how much you won then you don't need the form.

[EyeSeaEwe]

I don't know for sure, but I believe the IRS would say yes.

BTW, the casinos at sea web page states that all slot wins $1200 and up are subject to a W2G.

 

That is different than ALL wins

[EyeSeaEwe]

If you are not required to report the winning why do they give you a tax form?

 

 

The requirement for the payor to document the win is a completely separate matter than the receiver having to report it at tax time.