Last I new the law (for employers too a worker) it was over 600 and you filed a 1099 with the gov. so they new were the money went you give the payed a copy so they no it was turned in.Scott Lee said:Mowem down...You're pleading ignorance here sir. Talk to an accountant. If, and when, 1099's are sent, they are done so pursuant to FEDERAL tax laws. Do you really believe that an APA league operator (or the parent organization) conspires to try to tax their players? Geeeeeez...how in world could they benefit from that?
Scott Lee
www.poolknowledge.com
I never said they conspire to do any thing, I do however know for a fact the LO that runs are area has done so for 15 years and not one time (hold on let me call him) (on answer, so Ill say it this way) have I asked someone that has gone to Vegas from here, if they have got a 1099 and had the answer be yes... I would say the fact the LO used to be a cop, would be a good point to lay a bet, hes not breaking any laws. If hes not 1099 people what that means is hes claiming that money one way or another, and might be paying tax on it himself, no matter what if hes making enough money to not worry about it Im sure so is everybody eles. Just like the guy I said is running TAP, He's a bit shaddier than the other guy, but I would still bet hes not laying his freedom, or a heavy, heavy fine from the good old IRS on the line, just to be Mr.Nice and not 1099 his players.
And for the record I had already planned on claiming the 2750 cash part of the prize, never would I have planned on counting the cue, jacket, and the travel $, that is really petty on their part. I would love to see the paper work that shows they paid no less, than what they are claiming for those things. And what about the money they paid for the hotel. I guess their just using that as a riteoff so its ok. I guess I should say thanks, oh wait thats really my money anyway.
Now that I'm thinking abut it they baught all that stuff in bulk, and they are saying its worth X, if its not, and they are 1099 us for more then its true purchase price thats probably not lawfull, and if they are profiting from it, do you think they are claiming the sum of the dif.
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