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There are various ways for the IRS to receive notice of gambling winnings. Last December I covered some situations requiring the issuance of a Form W-2G to the recipient of gambling winnings, a form the IRS also receives.

Receiving a W-2G is not the only way the IRS is notified of gambling winnings. The Bank Secrecy Act requires United States casinos generating more than $1,000,000 in annual gaming revenues to report to the IRS certain large cash transactions. It doesn’t take a gaming expert to realize that many U.S. casinos meet the threshold.

Casino Ctr Form, casino monte picayo valencia buffet, texas holdem poker supplies, netflix casino. Permanent Wager: x35 Min deposit: £10. Best Percentage Bonus. 18+, T&C Apply, New Customers Only. 18+, T&C Apply, New Customers Only. Start Playing on Jackpot Capital. Currency Transaction Report by Casinos Form FinCEN 103 (Rev. 8-2008) NOTICE: On February 24, 2012, the Financial Crimes Enforcement Network (FinCEN) issued a final notice requiring the electronic filing of most FinCEN reports by July 1, 2012. Institutions are strongly encouraged to begin using the BSA E-Filing System as soon as possible.

Whenever a casino patron engages in a cash transaction involving more than $10,000 in a single gaming day, the casino must file with the IRS a FinCEN Form 103, Currency Transactions Report By Casinos. “Cash transaction” includes either cash ins or cash outs, and separate forms are filed for each transaction.

Each form contains the taxpayer’s identification information.

So you say, OK, I’ll just make smaller cash transactions, such as $3,000 at a time, then the IRS won’t be on notice of my dealings. This scheme is called “structuring,” and is illegal. Engage in structuring, and you may serve time.

If a casino has knowledge of smaller cash transactions the combination of which result in excess of $10,000, it must aggregate the multiple transactions into a single transaction. Although I can’t say I have seen cash deposit and withdrawal tracking systems of a U.S. casino, I would be very surprised if a casino generating at least $1 million in gaming revenues lacked the technology to easily identify such transactions.

If you are caught structuring, the casino may be required to file a FinCEN Form 102, Suspicious Activity Report by Casinos and Card Clubs, within 30 days of when the activity is detected. Form 102 is required for suspicious activities involving $5,000 or more in funds, either in a single or aggregated transaction. Casinos may, but are not required to, file the Form 102 if the amount involves less than $5,000.

When a casino files the Form 102, the casino is prohibited from informing the patron that one has been filed. The patron will almost certainly find out eventually. Don’t be that person.

It has nothing to do with taxes. The CTR and SAR forms are FinCEN requirements, not IRS (two separate bureaus under Treasury).
I've never caused anyone to fill out a CTR because I've never handled that much cash at once, but I did sit on a grand jury where several folks were indicted on structuring charges. You don't want to get caught structuring.
And you don't need an SSN, you just need an approved form of identification. Obviously you won't necessarily have an SSN if you're not a US citizen. See 31 CFR 1010.312:
http://www.gpo.gov/fdsys/pkg/CFR-2011-title31-vol3/pdf/CFR-2011-title31-vol3-sec1010-312.pdfIf the tax issue isn't your reason for concern, then just ask for a check. Then you won't need the CTR (although I have no idea what ID they want with a check payout...)

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If the tax issue isn't your reason for concern, then just ask for a check. Then you won't need the CTR (although I have no idea what ID they want with a check payout...)

This is not true - the rule applies to cash and cash equivalents like checks.

This is not true - the rule applies to cash and cash equivalents like checks.

Depositing a check in excess of $10k does not trigger a CTR. Unlike cash amounts in excess of 10k, I deal with large checks all the time. The C in CTR stands for 'currency.' Checks are not currency.

Casino 1099 Reporting

CURRENCY : Used in this context, currency means the coin and/or paper money of any country that is designated as legal tender by the country of issuance. Currency also includes U.S. silver certificates, U.S. notes, Federal Reserve notes, and official foreign bank notes.

Casino Ctr Form

I don't think checks are legal tender under that definition.
They are NOT issued by the government. They are almost universally HONORED, but they're not currency, and do not fall under the CTR requirement. In my job, I handle checks in excess of $50K regularly. No CTR required.

Casino Ctr Form 112