Taxes

[PokerBob]

I play at Party and am wondering if I need to worry about claiming any income from my internet successes. I know the anwser is "yes", but my real question is "If I don't claim it, will the IRS ever know?" (I know, I know, if I win $100,000, it's gonna be pretty hard to hide that. But I'm talking about maybe $5,000/year.) Party is in India, right? So that means the IRS has zero jursidiction over them, right?

Any input (or advice) would be appreciated.

[ChicagoTroy]

I suggest the search function.

[lu_hawk]

this gets brought up at least 5 times a week. but not paying taxes is a slightly ahead/way behind situation. yes if it's only $5k then chances are nobody will ever find out, but if they do find out down the road then you will wish you paid the $2k in taxes that you owed.

[PokerBob]

[ QUOTE ]
this gets brought up at least 5 times a week. but not paying taxes is a slightly ahead/way behind situation. yes if it's only $5k then chances are nobody will ever find out, but if they do find out down the road then you will wish you paid the $2k in taxes that you owed.

[/ QUOTE ]

I agree, but I just wonder how they would EVER find out. If I cashed out from Party $300/month, and had them send me a check, would the IRS ever notice? Why would I even be audited?

[Niediam]

No, they will probably not find out. However, if you do something in the next few years and you are audited (or the computer simply picks you for a random audit) then they IRS can basically do whatever they want to you...