I’m sure most of you probably know this, but some may not. Some of the lurkers may not as well.
A W2 form is not created/verified by the IRS or any other Government agency in any way when the form is being created/printed. Some may be under the impression that the business/casino has an account with the IRS and that the information is documented and the W2 is created. This is NOT how it works. The employer/casino simply inputs the information in the appropriate boxes on the W2, the software to create the W2, usually provided by a 3rd party.
Most small employers use a third party service online that provides a “templet”. The information is imputed for the employer and the system creates the document. The IRS is NOT involved in any of this! They verify nothing! The W2 is then printed by the employer. This is often printed on “W2” paper which can be bought by anyone. No verification of any kind needed. Casino W2G’s are often time printed on generic white printer paper, nothing special.
This is the important part, the W2 or W2G IS NOT valid until it is sent to the appropriate Government agencies. Anyone can go online and make a W2 with whatever information they want on it! Some are free, most employers pay a few dollars for each form created. This is why you don’t see many companies advertising “Fake W2’s” (yes there are a few) because there isn’t a difference between a real and a fake other than the purpose it was created for and the intent of the W2 creator. The only difference is if it was submitted to the Government.
The deadline for a W2 to be sent to the government is January 31st, of the following year. However, it is my guess that casinos send them in far before the deadline.
An Example:
Someone wants to open a business, they go to the city to get the form to apply for a business license (yes, I know this is usually done online). They fill it out. They submit it to the city. The form only means something once it is submitted.
The W2 is basically the same type of document. Prior to being submitted to the appropriate agency it is worthless.
No one oversees the creation of these documents.
Within 5 minutes anyone here can create a W2 form online with a legitimate design/printing company. Nothing is filed with the IRS or Government on their end. Many of them don’t store the info on their end either.
Prior to the internet, businesses usually had their W2’s created by an accountant.
Another example are companies that print checks for businesses - there is no value until it’s presented to a business for payment or presented to the bank that it is drawn on for payment.
Manufacturing Police badges? You get the point...
If Singer presenter a W2G, that would have to be compared to a real W2G issued by the casino to see if it matches up. Obviously the best way would be to get a duplicate W2G right there in front of you at the casino. Or better yet there is a form you can file with the IRS to see what W2’s are in a persons name. Win/loss statement? The list goes on. 0.0% chance Rob Singer fools me! BA-BOOOOM!
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