All In Against the IRS: Every Gambler's Tax Guide: Second Edition Paperback – December 27, 2014

Somewhat disappointed. This book is very superficial and most of the information in it is available online. The other book on Amazon, "Tax Help for Gamblers" is better, in my opinion, and contained information I could not find online. For example, All in Against the IRS did not say anything about having a casino withhold tax from a slot machine win, even though they are not required to. The Tax Help book did discuss this in a little detail and said that it was a good strategy to use for big Jackpots that cannot be offset by losses, such as on Progressive Slot. Both books are a good idea to read for serious gamblers.

This is a great book and it has information about casinos and taxes that never would have crossed my mind. For instance, I had no idea that U.S.A. based casinos are required to file a 1099-MISC with the IRS if a customer has more than $600.00 in Comps for the year. Wow, who would have ever thought that all of those free hotel rooms might just get you audited one day by the IRS and wishing that you had claimed all of those winnings that you thought Uncle Sam would never know about.

A very good book. The author does a great job of covering the issues. And, explains the rationale for his conclusions as to what should be reported or included in your winnings. I found this book to be very helpful.

This book was one of the best I've read on this subject. It contains a lot of information regarding how records should be kept and what the IRS is historically looking for.

Waste of money if you've ever read a tax book for gamblers. Too shallow.

worthwhile purchase

I am not really a gambler, and while I provided basic tax information to clients that I helped with business matters, I'm not a tax attorney, and therefore referred my clients to tax professionals for their tax needs. With that said, I enjoyed reading "All In Against the IRS: Every Gambler's Tax Guide" by attorney and tax professional Stephen Fishman, J.D. The book is short, very readable, and believe it or not, very interesting, even though the subject is one that most people would consider boring - taxes.One of the things that made it interesting, as well as readable for anyone, not just those of us with J.D. or CPA behind our names, is the fact that Fishman wrote the book in plain, easy-to-understand, language, and with a more conversational tone, rather than a boring tax guide. He starts the book with a short chapter on the rules of the game, and his first rule states that gamblers are not treated fairly by the IRS, he suggest that it is perhaps because gambling is viewed as sinful, but regardless of why, gamblers are treated very harshly by the tax laws. If you are a gambler, or if you assist gamblers with their taxes, this is a very valuable book. (Then you might just be strange like me and find reading about the way the IRS treats some categories as interesting.)After his ten short rules of the game, chapter two discusses what the IRS knows and when it knows it. This chapter covers things such as Forms W2-G, 1099-MISC, and Form 5754. What you need to know is that certain winnings are reported to the IRS. Fishman explains what they are. In the third chapter he explains how and when taxes are withheld from your winnings.Chapter four is where the book became more interesting in how the IRS wants you to determine your annual wins and losses. You can't just come to tax time and say, "Well, I won about 10,000 last year, but I lost more than that, so I don't have to do anything." That's not how the IRS makes you report things, and if you get caught not reporting the correct way, it can cost you.Fishman shows you how to document your wins and losses in chapter five, and then how to report them on your tax return in chapter six. He then address state income taxes in chapter seven. Up to this point, everything was aimed at casual or recreational gamblers. In chapter eight, the author shows what it takes to qualify as a professional gambler, and how the tax laws are different if you actually qualify per IRS guidelines for this status. The book concludes with a sample gambling log in an Appendix.After reading this book, I bet (pun intended) that most people who gamble are not reporting as required by the IRS. Reading this book will enlighten you on what the IRS wants and requires to keep you out of hot water if they ever come looking. Fishman also points out when they look more and when they don't. I also like that he included that the IRS wants you to report illegal gambling winnings and they won't turn you over to law enforcement authorities for illegal gambling, they just want their cut. Hmm, I'd still want to think that one over, but remember how Al Capone was finally put in prison.As with any legal book, laws change, and that goes for tax laws too. The laws in this book are current and accurate right now, because Fishman just wrote it, however, they could change. So I always encourage people to use books like this as guides, but check to make sure the laws are still accurate, or work with a tax professional who keeps up with the changes. The book does provide places to go check laws, and the author also recommends working with a tax professional for certain circumstances. If you are a gambler, or assist gamblers with taxes, this is a very good guide, that is simple to read, outlining what the IRS wants and requires when doing your taxes. It provides the information the author says it will, and it really is every gambler's tax guide.Reviewed by Alain Burrese, J.D., author of a regular column on negotiation for The Montana Lawyer.

Not a gambler? Do you place a bet now and again when I visit Las Vegas, or go on a cruise? Did you know that in most instances you are supposed to report your wins/losses to IRS? Well, now you do.This book, in my opinion, is one of the best guides on gambling and its repercussions on your tax return each year. I had no idea IRS had such enormous expectations when it came to playing the slot machines, or placing an occasional bet and wining a couple of hundred dollars now and again.Consider yourself warned: if you play in a casino, play the lottery, gamble on sports, dog or horse races, you have an obligation to Uncle Sam to keep a log and report your actions! Yes, that's true, keep a log of your bets, or you will end up paying more than you owe to IRS.Here is a simple example from the book:"Jack is a recreational gambler who never keeps any records of his play. During a visit to the Lady Luck Casino he gets lucky and wins $5,000 on a single play at video poker. The casino files a Form W-2G reporting his win to the IRS. Six months later, Jack does his taxes. He's sure he lost more than he won during the year, so he lists $5,000 of gambling winnings on his return and $5,000 in losses. He gets audited and the IRS asks him for proof he lost at least $5,000 gambling. He has none, so the IRS disallows his clamed losses. As a result, he must pay income tax on his $5,000 in winnings."I know you may not win $5,000, but the truth is that even if you win $600 on a single bet, you are required to report it to IRS on your tax return and on your state return (the book has a good reference that shows filing expectations for each state).`All In Against the IRS: Every Gambler's Tax Guide' is filled with excellent examples that will make the law particle and at the same time keep you interested. My recommendation - put this book on your Kindle or e-book reader and bring it with you on your next trip to your favorite casino. Use it as a reference each time you engage in gambling as you have an obligation to yourself and to IRS to stay on top of your actions - be it wins or losses - in order to prevent headaches when tax time comes.Highly recommended!