Prize Winners & Tax Reporting
At Member Only Club, we are committed to complying with all applicable U.S. tax reporting requirements.
If you receive tournament winnings exceeding $600 USD, you may be required to complete IRS Form W-2G (Rev. December 2023) before your prize payment can be processed, in accordance with applicable IRS regulations.
All winners receiving more than $600 (U.S.) may be required to complete IRS Form W-2G (Rev. December 2023) before prize distribution.
The form includes:
- Your name, address, and Social Security Number (or Taxpayer Identification Number).
- The amount of gambling winnings.
- Federal income tax withheld (if any).
- Any state or local taxes withheld.
You use the information on your W-2G when filing your federal income tax return. Even if you donotreceive a W-2G, the IRS generally requires you to reportall gambling winningsas taxable income.If you need a copy of the form or instructions, you can find them here:
If your question is about a specific W-2G you received (for example, from a casino, lottery, or sportsbook contact IRS or Tax adviser and or your accountant),
What Is IRS Form W-2G?
IRS Form W-2G (Certain Gambling Winnings) is a tax reporting form used by the Internal Revenue Service (IRS) for qualifying winnings that meet federal reporting requirements.
If applicable, winners may be asked to provide the necessary information required to complete the form before prize funds are released.
Information You May Be Asked to Provide
Depending on IRS requirements, you may be asked to provide:
- Full Legal Name
- Mailing Address
- Taxpayer Identification Number (TIN) or Social Security Number (SSN), if applicable
- Government-issued Identification
- Any additional information required for tax reporting purposes
Important Notice
Players are responsible for complying with all applicable federal, state, and local tax laws related to tournament winnings.
If you have questions regarding your personal tax obligations, we recommend consulting a qualified tax professional.
Learn More
For complete details about IRS Form W-2G (Rev. December 2023), eligibility requirements, and reporting instructions, please visit the official IRS page:
IRS Form W-2G – Certain Gambling Winnings (Rev. December 2023)
Official IRS Resources
For complete information about IRS Form W-2G (Rev. December 2023), including eligibility requirements, instructions, and the latest version of the form, please visit the official IRS website.
IRS Form W-2G (Certain Gambling Winnings)
- About IRS Form W-2G: https://www.irs.gov/forms-pubs/about-form-w-2-g
- Download IRS Form W-2G (PDF): https://www.irs.gov/pub/irs-pdf/fw2g.pdf
- IRS Instructions for Form W-2G: https://www.irs.gov/instructions/iw2g