Poker Flat Tax Falls Off The Table

If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!

The proposed U.S. 25% flat tax on poker tournament winnings over $5,000 is not going to pass into law. The new law would have automatically withheld 25% of the tournament win leaving significantly less money in the poker microeconomy. This can lead to a much bigger discussion, which I will leave for another time.

The discussion for this time, in the meantime, is that the IRS did not give up on this tax because they thought it was a bad tax. The IRS would love to implement a tax like the one proposed. The only reason they gave up on this tax was that it is not a viable option to put such a rule into affect. When, not if, they can find a way to implement a withholding of tournament winning, they will do it. If this ever goes into effect, it will be one big nail in the coffin that the American government is building for poker players.

Share This