WebbThe only time Chumba will send you a tax document is if you were to redeem an amount in excessive of what they are able to send via ACH ($150k+). In which case Chumba will work with a sweepstakes company in the US to administer your prize. The sweepstakes company will require you to fill out a W9 before cutting you a check for the prize and you ... Webb29 dec. 2024 · Any sports betting earnings that go beyond $600 are expected by the IRS to be reported by the gambler when they file their taxes. Any unpaid taxes will accrue interest; if a bettor cannot pay the taxes owed on time, the IRS will garnish the bettor’s wages. There is also a potential $100,000 fine and up to five years in prison for anyone found ...
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