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Author Topic: 1099 from ABC Nationals  (Read 911 times)

tenpinspro

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1099 from ABC Nationals
« on: February 12, 2004, 05:19:34 PM »
Hey Guys,

For those of you who don't know yet and are bracket players....KEEP YOUR RECEIPTS.  I just got my 1099 from ABC in Tennessee last year, didn't know why, only made about $250 in the tournament so I called ABC and they started with my BRACKET money.  I made about $800 in brackets and they counted it!!  First time for me, I guess I never made that much before.(Takes $600 to kick out a 1099)
Just thought I'd let you know...
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Rick Leong
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Rick Leong - Ten Pins Pro Shop
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"El" Presidente of the Legion

 

Gravy

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Re: 1099 from ABC Nationals
« Reply #1 on: February 13, 2004, 11:38:23 AM »
I wonder if they pay taxes on the money they take out running the brackets? Doesn't the IRS pay a 10% reward if you turn in somebody who is cheating on their taxes?
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tenpinspro

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Re: 1099 from ABC Nationals
« Reply #2 on: February 13, 2004, 05:04:17 PM »
Hi Gravy,

Yes they do pay taxes and that's how this was initiated because ABC got audited on this.  They said they've been doing it a few years now, not exactly sure when they took over running their own brackets.
--------------------
Rick Leong
Ten Pins Pro Shop
Track Pro Shop Staff
Vise Grip Staff
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Rick Leong - Ten Pins Pro Shop
Co-Founder - Tag Team Coaching
"El" Presidente of the Legion

Gravy

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Re: 1099 from ABC Nationals
« Reply #3 on: February 13, 2004, 05:39:13 PM »
Just can't catch a break from the tax man.
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