US gambling tax

Hi!
I recently got an e-mail with an interesting and important question that I thought I should share with you.

“Concerning my bankroll, what do I have to worry about tax-wise? With most sites out of the US, am I legally responsible for paying taxes on winnings from other countries and, if so, how much?” Juggernaut Jake

This is not easy to answer, but generally US citizens have to tax online winnings. To find out more about the US rules, how to compute your income, keep tax records etc, have a look here

I know, most people don’t like to pay taxes, but if you have to do it you must be a winning player. :-)

Comments

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