Prentice Hall's Federal Taxation 2015(Individuals) Your client, Connie, won $12,000 in a football office pool....
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Prentice Hall's Federal Taxation 2015(Individuals) Your client, Connie, won $12,000 in a football office pool. She sees no reason to include it in her income for several reasons. First, the amount won will not be reported to the IRS. Second, as an average income employee, she is unlikely to be audited by the IRS. Third, she feels that she has probably lost this much in other past office pools. How do you respond?
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