Understand the Tax Rules Now to Avoid a Mess with the IRS Later
What happens in Vegas stays in Vegas—often including the Internal Revenue Service's share of your winnings from gambling. And it's not just Vegas; most states now have some form of legalized gambling. Even in states without legalized gambling, there are internet gamblers—those who travel to gambling venues and those who engage in illegal gambling. As a result, more and more people have gambling winnings or losses. Unfortunately, not all taxpayers maintain adequate records of wins and losses, and many become subject to IRS audits.
Learn the rules and regulations for accounting for gambling winnings and losses in this informative webinar by taxation expert Robert E. McKenzie. McKenzie will review the most recent cases and rulings—both "for" and "against" taxpayers. Among other things, he will also walk you through the reporting rules for gambling winnings and losses, and show you how to effectively defend an IRS gambling examination.
After attending this webinar, you will be thoroughly familiar with what your obligations are toward IRS for your gambling winnings and losses; how you should keep a record of all your gambling winnings and losses; casino reporting requirements, and more!
This webinar will bring you up to speed with:
Casino reporting requirements
Taxpayer record keeping requirements
Reporting rules for gambling winnings and losses
Recent cases and rulings
Effectively defending an IRS gambling examination
NASBA & IRS Category of Study: Taxes
Who Should Attend:
Certified Public Accountants (CPAs)
Enrolled Agents (EAs)
Finance and Accounting Professionals
Accounting and Taxation Firms
Law firms dealing with tax issues
Businesses involved in joint ventures with nonprofit organizations
Robert E. McKenzie is a partner of the law firm of Saul Ewing Arnstein & Lehr LLP of Chicago, Illinois, concentrating his practice in representation before the Internal Revenue Service and state agencies. He has lectured extensively on the subject of taxation. He ...