W9 Forms Needed For All Prize Winners

Tom Kessenich · Post by **Tom Kessenich** » Mon Nov 23, 2009 1:58 am

We're nearing the end of another exciting football season and that means it will soon be time to pay our prize winners. In order to do that, we need to have a W9 form filled out from you. You must fill this out in order to be paid.

If you have received money from us in the past and have not changed your address, then you do not need to fill one out. However, if you have moved or will be receiving prize money from us for the first time you must fill this form out and return it to us.

You can fill out a form ahead of time if you like by going to www.irs.gov. and clicking on the W9 option. Please fill out the form and sign it. You can then email me the form at [email protected] or you can mail it back to me at:

Fanball.com
105 Pinecrest Lane, Suite E
Iola, WI 54945

Good luck to everyone in the hunt for prize money this season.

[ November 23, 2009, 09:36 AM: Message edited by: Tom Kessenich ]

Sabretooth · Post by **Sabretooth** » Mon Nov 23, 2009 6:56 am

Tom I am assuming that you just need the front page with the Name,address,S.S. number? I clicked on this link and the entire form is 4 pages.

Chris

Tom Kessenich · Post by **Tom Kessenich** » Mon Nov 23, 2009 8:05 am

Just the first page, correct. Fill out your name, address, Social Security number and sign it.

76erfan · Post by **76erfan** » Wed Nov 25, 2009 6:22 pm

two questions..how do you sign a W9 electronically...and do you need to fill one out if you are winning one of those 50 dollar buy in leagues with small payouts?

Greg Ambrosius · Post by **Greg Ambrosius** » Fri Nov 27, 2009 5:05 am

Originally posted by 76erfan:
two questions..how do you sign a W9 electronically...and do you need to fill one out if you are winning one of those 50 dollar buy in leagues with small payouts? You need a W-9 if you have won $600 or more from us in 2009. If you have won less than that, then you do not need to provide a W-9.

Print out the W-9, sign it and send it in via slow mail. Thanks.

Henry Muto · Post by **Henry Muto** » Fri Dec 04, 2009 1:06 pm

The one thing that aggravates me more than anything else about playing in these online contests is if you pay $1300 to enter and then win $650 you still have to fill out these forms and pay taxes. To me this is a complete joke. How in the world am I expected to pay taxes on $650 in winnings if I paid $1300 to play ? Something needs to be done about this situation. It is hard enough to win any money at all but then to have to pay taxes on money that isn't even a profit. You should only be requried to fill out these forms if your net is +$600 for the year in the contest and you should only have to claim winnings above your entry fee.

[ December 04, 2009, 07:07 PM: Message edited by: Henry Muto ]

Sandman62 · Post by **Sandman62** » Fri Dec 04, 2009 1:14 pm

I'm pretty sure too that you get to offset losses as expenses against your winnings.

vcalderoniii · Post by **vcalderoniii** » Tue Dec 08, 2009 4:30 pm

You do not have to pay taxes if you can show losses that are greater. This is filed under as a gambling tax. I won 12K in 2008 and showed 12K worth of losing lotto tickets. Hint save all your old lotto tix thru out the year in case you hit. And if ya don't play ask someone who does to save them for you

chriseibl · Post by **chriseibl** » Tue Dec 08, 2009 5:30 pm

Originally posted by GK:
quote:Originally posted by Henry Muto:
The one thing that aggravates me more than anything else about playing in these online contests is if you pay $1300 to enter and then win $650 you still have to fill out these forms and pay taxes. To me this is a complete joke. How in the world am I expected to pay taxes on $650 in winnings if I paid $1300 to play ? Something needs to be done about this situation. It is hard enough to win any money at all but then to have to pay taxes on money that isn't even a profit. You should only be requried to fill out these forms if your net is +$600 for the year in the contest and you should only have to claim winnings above your entry fee. ...I do believe that what you are requesting here can indeed be done - consult your taxman Henry...GK [/QUOTE]it would likely only make a difference to people who use the standard deduction.

for example, if you paid 1,000 to enter a league and got 2,000 back, did you "win" 1,000? or did you "win" 2,000 and "lose" 1,000. It matters to people who don't itemize on schedule a since they can't deduct what's "lost".