Big beautiful bill to fuck gamblers.

[kewlJ]

Sounds like a story you read on a forum.

Troll much?

[MisterV]

No tax on OT or tips?

What moron thought that one up?

Income is income, we all should pay our fair share.

The other moron did, too.

Yeah, she's an idiot just like Trump.

[MDawg]

There are two reasons why UNKewlJ’s stories are so bland and generic. One is because he’s lying. He can’t flesh out what he never did and simply lifted from what he read or heard. The second is that he has all the personality of a wooden rocking chair and couldn’t come up with much interesting to say period.

[DGenBen]

No tax on OT or tips?

What moron thought that one up?

Income is income, we all should pay our fair share.

No tax on tips might be considered unfair to people who stick the whole thing in.

[mickeycrimm]

No tax on OT or tips?

What moron thought that one up?

Income is income, we all should pay our fair share.

The other moron did, too.

Kamala did it only because Trump did it.

[smurgerburger]

Has anyone ever proposed a theory that would justify not taxing tips as opposed to, for example, lowering a marginal tax rate?

[Don Perignom]

Has anyone ever proposed a theory that would justify not taxing tips as opposed to, for example, lowering a marginal tax rate?

Ron Paul backed the idea during his 2008 presidential campaign:

https://www.lewrockwell.com/2007/10/...taxes-on-tips/

He characterized tips as basically a performance bonus, so taxation would penalize performance.

Thomas Massie says he introduced similar legislation.

The logic is not totally immediately obvious to me, but if Paul and Massie agree on it, I'm inclined to give them a pass.

Of course the finalized legislation when approved by the swamp will likely be twisted and counterproductive.

[Rob.Singer]

No tax on OT or tips?

What moron thought that one up?

Income is income, we all should pay our fair share.

The other moron did, too.

Yeah, she's an idiot just like Trump.

Idiots don't get wide open borders closed, nor do they get deficit-reducing bills passed while the other guys whine and act like a bunch of tasha's.

[smurgerburger]

Has anyone ever proposed a theory that would justify not taxing tips as opposed to, for example, lowering a marginal tax rate?

Ron Paul backed the idea during his 2008 presidential campaign:

https://www.lewrockwell.com/2007/10/...taxes-on-tips/

He characterized tips as basically a performance bonus, so taxation would penalize performance.

Thomas Massie says he introduced similar legislation.

The logic is not totally immediately obvious to me, but if Paul and Massie agree on it, I'm inclined to give them a pass.

Of course the finalized legislation when approved by the swamp will likely be twisted and counterproductive.

Thanks.

I see the point to an extent but a couple of objections occur to me...

1. Tips in the US are largely perfunctory, moreso than performance bonuses paid by employers (in finance or sales for example),
2. We still tax those latter forms of income anyway.
3. Many(?) states have laws that allow employers to pay restaurant staff below minimum wage, which will now have the effect of arbitrarily giving one class of employees a lower tax burden than any other, regardless of how much they make.

[Don Perignom]

I see the point to an extent but a couple of objections occur to me...

1. Tips in the US are largely perfunctory, moreso than performance bonuses paid by employers (in finance or sales for example),
2. We still tax those latter forms of income anyway.
3. Many(?) states have laws that allow employers to pay restaurant staff below minimum wage, which will now have the effect of arbitrarily giving one class of employees a lower tax burden than any other, regardless of how much they make.

Agreed. It seems arbitrarily selective when so many other aspects of government punish success and reward failure. I would want to see the full text of what Paul and Massie were proposing, but it doesn't matter because no one ever listens to them anyway.

[mickeycrimm]

I keep wondering who is behind this gambling tax provision. The IRS would know this rule will kill action so revenue would go down. What purpose would this new tax rule serve? Who benefits from it? Is it meant to chase professional sports bettors away from the books? Someone had to think up this shit and get it into the bill. Is the sports betting industry behind it?

[MisterV]

Idiots don't get wide open borders closed, nor do they get deficit-reducing bills passed while the other guys whine and act like a bunch of tasha's.

Idiots DO get recorded saying how they grab women by the pussy...and lie about the 2020 election...and get felony convictions for cheating on taxes...and owe millions for sexual predation...

You MAGA types look at the oaf the way the krauts did Hitler: "Ach, he ist a bad man but 'dat is what Deutschland needs right now..."

[Jexposed]

Finally, there's the matter of audits.

Very few pro gamblers get audited. As you might imagine, I know a LOT of pro gamblers -- through poker, sportsbetting, and casino advantage play worlds. Of all those gamblers, very few have been audited due to their handling of their tax filings. Of those I know who did get audited, almost all of them were people who simply didn't file tax returns for a few years in a row, and the IRS eventually came knockin'. But among those who file taxes and voluntarily send money to the IRS that they weren't otherwise expecting to receive, they tend to get left alone.
.

I don't want to say too much about this, although I have shared it before, but I was audited a number of years back. Not an audit where I had to go in and sit down and go over everything line by line....what do they call that....a cavity check type audit.

My audit was a written request for documentation. I had a financial guy that handles my taxes and he told me what they wanted.

So for a little context this was at the height of the VP machine play my partner and I were doing. And I had a lot of W-2 for that year. I suspect that is what triggered the action.

So they wanted detailed records of all play. So I put that together from actual records as best I could and submitted it in handwritten form in a little ledger type notebook purchased at the dollar store. My financial guy submitted it and the only other correspondence was notification a while later, that the case was closed.

My own personal feeling was it was some IRS dude harassing a low level winning player, trying to see if he could get that player to cough up some more money. And when he couldn't, it was dropped.

And now with cuts in IRS staffing, you would think there would be even less of this petty type shit.

Why you put on these airs Jayvee? You never pay tax. So many lies baby. You seek help now.