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  #1  
Old 11-12-2004, 12:03 PM
o0oDianao0o o0oDianao0o is offline
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Question Is this really true? Social Security Card and Jackpots


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One of my friends told me if you win a jackpot, you need a form of identification which shows your social security number for tax purposes. If you don't have it, you forfeit your prize. Is this true? I am staying at the Paris over NYE and want to make sure I have everything I need with me.
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  #2  
Old 11-12-2004, 12:07 PM
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RamBill RamBill is offline
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You have to fill out a W-2 tax form for any single winning over 1,200.00. You could say, win a million dollars total and not pay a dime in taxes if each and every win was under 1,200.00.
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  #3  
Old 11-12-2004, 12:14 PM
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The IRS form W2-G is issued to players and is also sent to the IRS by the casino for certain gambling winnings: (1) winnings of $600 or more from state lotteries, horse racing, dog racing or jai alai and other wagering transactions, if the winnings are at least 300 times the wager; (2) winnings of $1,200 or more from bingo and slot machines; (3) winnings of $1,500 or more from keno, less the amount of the tickets bought on the winning game; (4) winnings of $600 or more from horse racing, dog racing or jai alai, if the winnings are at least 300 times the wager.
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  #4  
Old 11-12-2004, 12:31 PM
o0oDianao0o o0oDianao0o is offline
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Thanks for the feeback, however I am still confused. Do I need to bring my social security card with me to Vegas or do I just need to know my number?
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  #5  
Old 11-12-2004, 12:41 PM
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vegashost vegashost is offline
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Quote:
Originally posted by RamBill:
You have to fill out a W-2 tax form for any single winning over 1,200.00. You could say, win a million dollars total and not pay a dime in taxes if each and every win was under 1,200.00.
Not entirely true. For transactions that total over 10k they have to fill out a CTR (Currency Transaction Report). This can be on a single or a combined win. Also if a sports bettor or a keno bettor places a dollar bet and wins like $500 (for got the exact math in the calculation) a w2g has to be filed. Man I forgot all my Reg6A traning.

[ November 12, 2004, 02:43 PM: Message edited by: vegashost ]
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  #6  
Old 11-12-2004, 12:52 PM
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DonD DonD is offline
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They have ALWAYS asked for my Social Security card. I love IRS signups. It means I am winning.
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  #7  
Old 11-12-2004, 01:33 PM
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I had to fill out a few w2's, but never had to show my SS card as proof. They may ask for photo ID such as driver's license.

If you win big... don't forget to ask if they can comp a nice dinner or give you a room upgrade! Never hurts to try....
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  #8  
Old 11-12-2004, 01:56 PM
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It is unrealistic to expect somebody to carry a copy of their social security card. State / Federal issued ID is good enough.
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  #9  
Old 11-12-2004, 01:57 PM
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You will need to know your SSN and have a form of ID. I would NEVER travel with my social security card.
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  #10  
Old 11-12-2004, 02:02 PM
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SH0CK SH0CK is offline
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Leave the social security card at home in the fire proof lock box. One of my group won a $1500 prize once on a $5 machine and all he had to do was show his ID and fill out the forms. Of course, Tennessee drivers licences already have the social security numbers on them.
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