The big winners in March Madness are the teams that go deep in the tournament, the fans whose brackets don't bust, and the IRS.  The money you get for winning your office pool might not seem like "earnings" but it's definitely "income," which means it's subject to income tax. 

CPAs and IRS agents say the same thing: put some aside for next April 15th because, according to the letter of the law, you are obligated to report your office pool winnings as income. 

Get more tax tips at iHeartRadio.com/TaxTips

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