2012 Fantasy Football

[MikeO]

I agree. I don't care either way, but if "donate" a little prize (something very little, nothing fancy by any means) what harm is that causing?

Once again I don't care, but I don't get why not.

[miamid45]

Doubt I stay up until after midnight if there are no prizes....have enough pools going as is....you play the game to win something...are we 5 years old?

[dolphins4life]

It's legal matter in terms of filling out paperwork if there is a prize.

I don't feel like dealing with that.

[tubba marxxx]

It's legal matter in terms of filling out paperwork if there is a prize.

I don't feel like dealing with that.

Legal matter..aka Mike O finding out someone's mailing address?

[MikeO]

legal matter? If I mail someone a cheap ex-Dolphins player autograph its a legal matter?

I mean I don't care about a prize one way or another but that is some weird reason! lol lol

[dolphins4life]

You have to report that prize to the IRS, no matter how small it is.

If you want to do that, you can be the commissioner next year

[tubba marxxx]

You have to report that prize to the IRS, no matter how small it is.

If you want to do that, you can be the commissioner next year

Please explain?  Because I'm pretty the US Postal service has a slogan of "If it fits, it ships."   Christmas presents don't have to be reported to the IRS.  What's the difference?


I also don't care one way or the other..this whole argument is just confusing to me.  Using the word argument loosely, obviously

[MikeO]

if the prize is less than $600 in value it doesn't have to be reported I believe. I don't think a $20 baseball cap (or something along those lines) needs to be reported.

But whatever, I really don't care.  I just think you are mistaken on this.

[dolphins4life]

I probably am, but I'm not going to take that the chance and wind up in federal prison because somebody in Feds might have a grudge against my family for some reason.

[Brian Fein]

I probably am, but I'm not going to take that the chance and wind up in federal prison because somebody in Feds might have a grudge against my family for some reason.

nothing under $600 gets claimed as income. And no one is going to take you to federal prison over a fantasy football league. There are people that owe the irs millions, they're not going to spend one red cent to get you to pay up for an autographed photo.

[MikeO]

I probably am, but I'm not going to take that the chance and wind up in federal prison because somebody in Feds might have a grudge against my family for some reason.

Are you in the Gotti Family?! lol

[Landshark]

if the prize is less than $600 in value it doesn't have to be reported I believe.

You are exactly right.  Any prize with a value of less than $600 is not required to be reported to the I.R.S. 

[Brian Fein]

And, EVEN if this was Bizarro world and the IRS came chasing after someone to pay 30 cents of tax for their token fantasy football prize, they'd come after this website, its owners and administrators, and not you.  Because it is an official TDMMC league, you are only a volunteer organizer.

[SportsChick]

nothing under $600 gets claimed as income. And no one is going to take you to federal prison over a fantasy football league. There are people that owe the irs millions, they're not going to spend one red cent to get you to pay up for an autographed photo.

Which is why Publix (and other lotto retailers) can't pay out prizes over $599

[dolphins4life]

Well, I remember that chess tournament I went to where the prize was about $100 or so and the TD still required everybody to fill out W-2 forms.