Gambling and Lottery Winnings

Tax whizzes, CPAs and lawyers of PH reddit, please help me be informed! What are the standard tax rates for casino winnings in PH? And for winnings, should we get a winnings voucher or anything of that sort from the casino?
Google search yielded 10% for prizes 10,000 PHP and below, and 20% otherwise, but was generally vague on which laws imposed such figures.
Maraming salamat po!

On tax matters, do I get to report winnings from a Casino Giveaway?

So last week, I won some cool $EOS bag from an online casino. I'm wondering if I should report my winnings as it was just a reward for actively playing games on the casino last week. Even now, I'm actively gunning for the $TRX giveaway going on now. I'm bothered I may have to report those winnings. What do you guys think?

Am I required to pay taxes on casino winnings?

I have just started playing blackjack in late December 2020. Over the weekend I was able to walk out of the casino with $4000 profit after walking in with 200.
How do taxes work with gambling winnings?

If I place a big bet at a casino and win, I pay a bunch of taxes... if I lose, what kind of taxes does the casino pay in their winnings from me?

I just saw the “Mattress Mack” guy placed a big bet on the super bowl and won and it made me think.

[Business] - LDP panel plans tax-free casino winnings for nonresident gamblers in Japan

[Business] - LDP panel plans tax-free casino winnings for nonresident gamblers in Japan | The Japan Times

Question for Canadian players who've have winnings in american casinos and had taxes (30%) withheld?

just wanted to know if i'm able to claim those taxes and amounts back as a non-resident? I remember a few people were saying it's possible but the few searches I've done all usually include hiring an agency.
i only believe it's a thousand dollars or so but looking to see if there's a resource or guide I can follow?

Claiming casino winnings/losses on taxes

Hi, so I just had a dream I won huge while gambling, and then I woke up. I began daydreaming about the money, which lead me to thinking - how do you report your gains and losses if you don’t have an account? I remember when I did gamble, I put in money, played a bit, and exchanged the voucher for cash. Let’s say I won about $5,000, and the casino just paid me out in cash. How do I report those earnings to IRS?

Bit confuse .self employed. My annual taxes to irs are about 3000 a year .. but this year i won at the casinos.. they gave me full cash didt take taxes & gave me a w2g form.when i input this to turbo tax it says i now owe 4440 which is less the the 24% i should pay for the gambling winnings

Claiming tax returns on US casino winnings.

I won some money in a casino in the states recently and had to pay 30% withholding tax, I’m just wondering if anyone has ever claimed this back and if so how they’ve gone about it.
I live in Canada but i’m an Irish citizen and have done a bit of searching online but only found links to seemingly dodgy companies for Canadians. Any help on this would be appreciated.

[Business] - Government considering applying withholding tax to casino winnings of non-resident foreigners | The Japan Times

[Business] - Government considering applying withholding tax to casino winnings of non-resident foreigners

Tax Implications of USD Casino Winnings

Hey PFC. We're heading into tax season. The SO won about $6K USD on a video poker machine in Las Vegas. I don't think the winnings are taxable in Canada, but because it was for a good chunk of change they gave him a W8-BEN form at the time of payout and withheld 30%.
I understand there's a way to get this back from the US government. But when I file our taxes together, do I need to report this anywhere on our returns?
We're in Alberta if it matters.

Do casinos tax your winnings?

TIL that in 2008 Danish citizen Peter Eastgate won more than $9 million in the World Series of Poker but because of high tax rates on casino winnings, he actually kept less than the second and third place winners.

If you win at a Casino and they take out taxes, do you still have to pay taxes in your home state?

Just got back from Vegas the other night and I was wondering: if you win enough money (so that they have to draft up tax documents for you), they will automatically take out taxes and then give you the remainder. Do you still have to pay taxes on it in your own home state (assuming you don't live in Nevada) next year?

20 Y/O winning $14K at a Casino. How much is taxed?

I won $14K at a casino on an Indian Reservation. I didn't get asked to take taxes out of it. I am wondering what percentage I have to pay back when it's time to file taxes. My mother says that I will pay back hardly anything because I make under $20k a year from a part time job and I am a student in college as well as I won on an Indian Reservation which is exempt from the federal government. No idea if this is true. How much will I have to pay back, if any?
Edit: I won in Michigan but live in TX

Tax Form for Casino winnings?

My friend went to Sugarhouse (in Pennsylvania), won $1500 on a slot machine, and they made her fill out a tax form? She was told anything over $1200, a form had to be filled out. I was told that if you try cashing out more than $10k that a tax form is required. I don't see how two PA casinos would differ, so can someone make sense of this to me please?

Hundreds of millions believed laundered at Crown Casino Perth through $2 shell company

ELI5: If my parents were millionaires could I avoid inheritance tax by going to a casino and winning their money off them in a poker game?

EDIT: This question was specific to the UK where there is no tax on gambling winnings. Sorry I wasn't clear

Taxes on casino wins.

Let’s say I first lost close to $10,000 over time by playing blackjack in a casino and now a few months later or so I win back all that money. Do I still have to pay taxes for having won back my own money? Please advise.

Taxes on live poker winnings at a casino.

I usually play a $200 Buy-in multi-table tournament at an Illinois casino. I recently won a tournament and won $2000 and had to fill out an W-G2. So the question is, do I need to file my tournament winnings to the IRS?

casino winnings tax video

Any winnings subject to a federal income-tax withholding requirement; If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24%. If you didn’t give the payer your tax ID number, the withholding rate is also 24%. Withholding is required when the winnings, minus the bet, are: Tax and Casino Winnings in the US. In the US, casino returns are fully taxed by the federal government and sometimes the state government. Tax is deductible from both cash and non-cash returns, and the Internal Revenue service (IRS) is the organization saddled with this responsibility. The Internal Revenue Service (IRS) states that you need to include all of your income on your tax return. Now, it's a no-brainer that you'll report the income from your job and your freelance work, but what about your lucky night at the casino or the big win from your fantasy football league? Here's everything you need to know about taxes on winnings to file with a clear mind. Gambling and Lottery Winnings Class of Income. Gambling and lottery winnings is a separate class of income under Pennsylvania personal income tax law. See 72 PA C.S. §7303(a)(7). Between July 21, 1983 and Dec. 31, 2015, all prizes of the Pennsylvania Lottery were excluded from this class of income. Winnings from gambling can be taxable and should be reported on your tax return. Winnings may be reported on a W2-G. However, if you itemize deductions on the schedule A, then you may deduct gambling losses only up to the amount of the winnings claimed on your tax return. Remember to keep proof of your losses. Casino Winnings Are Not Tax-Free. Casino winnings count as gambling income and gambling income is always taxed at the federal level. That includes cash from slot machines, poker tournaments ... Table games in a casino, such as blackjack, roulette, baccarat, or craps are exempt from the W-2G rule. This doesn’t mean you don’t have to claim the income and pay taxes on it if your winnings aren’t enough to warrant the tax form. It just means that the institution won’t send a Form W-2G. Apart from slot machines, the same applies to winnings from lottery, bingo, keno, poker or other games of chance. So, if the amount won on a slot machine is higher than $1200, the casino is required to report it. In other words, all your gambling winnings have to be reported on your tax return as "other income" on Schedule 1 (Form 1040), line 8. From there, the proper gambling forms will be filed along with your 2020 Tax Return. Remember that, even if you do not get a Form W-2G, you must report all gambling winnings on your return. Gambling winnings include, but are not limited to, money or prizes earned from: Casino games; Slot machines* Keno* Poker tournaments; Lotteries; Sweepstakes ... The following rules apply to casual gamblers who aren't in the trade or business of gambling. Gambling winnings are fully taxable and you must report the income on your tax return. Gambling income includes but isn't limited to winnings from lotteries, raffles, horse races, and casinos. It includes cash winnings and the fair market value of prizes, such as cars and trips.

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Casino winning tax PH