If you assume he “works” 200 days per year, he has devoted 20,000 hours to this “job” over the last 10 years. If he truly collected $500,000, he made $25 per hour pretax. Do you suppose he reported this income to the IRS?
‘It is all taxable income. I file my winnings with the I.R.S. every year, Mr. Leonardo said in his thick Dominican accent.’
I think VINCENT M. MALLOZZI just did it for him.
Believe it or not, he might have a 1099 or something from the OTB. In most places, legal gambling facilities (as well as game shows) must report larger winnings to the IRS.