Originally Posted by
baccarat_king
Tax law + gaming is not just something you make up.
The IRS is very strict, and requires an immense amount of documentation and back-up data.
I do not think you would get away with this on any level.
It's hard enough to even deal with the everyday (gaming) tax issues. In addition, how are you going to "prove" what you tipped? I can only think of perhaps, a "tip-journal," but that's going to be very interesting if you ever get audited.
A good place to start, if you are a professional player and/or recreational player that has many W2-Gs and has to offset losses etc.
I understand how the current law works, I just think it is unfair and should be challenged. People do challenge the tax laws.
I have enough loss to wipe my w4-g so its not relevant to me anyway, I am just saying I don't think its fair and I might just go ahead and say so to the IRS if I was in that situation.