Commissioner Of Internal Revenue Research Paper

Commissioner Of Internal Revenue - Research Paper Example Conducting the event in a tournament setting did not transform the poker activity into something other than wagering. Further, the act of betting is intrinsic to poker, regardless of whether it occurs in tournament poker or "live action" poker. Finally, the taxpayer's argument that tournament poker should be treated the same way as sports such as golf or tennis was rejected. Congress's decision to draw clear distinctions can mainly be viewed as a reasonable form of setting out the distinction without violating due process or equal protection. At trial, petitioners concurred that Mr. Tschetschot was not a professional gambler but argued that Mrs. Tschetschots professional tournament poker playing is not gambling and thus not subject to the limitations of section 165(d) on losses from gambling. The Internal Revenue Code (IRC), as cited fromen.wikipedia.org/wiki/Internal_Revenue_Code is the domestic portion of federal statutory tax law in the United States, published in various volumes of the United States Statutes at Large, and separately as Title 26 of the United States Code (USC).It is organized topically, into subtitles and sections, covering various types of taxes as well as procedure and administration. Its implementing agency is the Internal Revenue Service. In reference to the Black’s law dictionary, gaming is defined as the act or practice of playing games for stakes or wagers; gambling; the playing at any game of hazard (re Stewart (D. C.) 21 Fed. 398). (2) An agreement between two or more persons to play together at a game of chance for a stake or wager which is to become the property of the winner, and to which all contribute(People v.Todd, 51 Hun, 440, 4 N. Y. Supp. 25;)