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Cashing out online winnings and taxes

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Big J Money

03-11-2004, 07:52 PM Post subject: Cashing out online winnings and taxes

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Join Date: Jan 2004

Location: Thousand Oaks, CA

Posts: 42

Does anyone know how much you can cash out before raising eyebrows and having to pay taxes on online winning? All I could find on PP was, "Company (PartyPoker) may report and withhold any amount from winnings as required by law, and in any event, all federal, state and local taxes due in connection with any winnings awarded to you are your sole liability." But, it doesn't say how much you need to win before they report you.

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