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View Full Version : File your Poker Winnings? part 2

applej25
03-07-2005, 08:16 PM
Lottery Larry
03-07-2005, 10:53 PM
again, I don't know what might happen if I have a net gain one year. Maybe that's an IRS alert?
applej25
03-08-2005, 01:35 PM
Any of you DONT KNOW people want to go into what your thinking about or leaning towards, and why?
applej25
03-08-2005, 01:56 PM
Anyone know what percentage of the general population is auditted?

Does the IRS look for something or are they just random?
johnfromvirginia
03-08-2005, 05:02 PM
I don't know what percentage of the population gets audited, but I do know that the vast majority of recent audits has been on high net worth individuals and small business owners because they are the ones who have the greatest ability to manipulate their taxable income. It seems to me that poker players might become targets to some degree for the same reason. On the other hand, an audit of a typical poker player is not likely to be tremendously profitable for them because it may be difficult for them to find enough unreported income to make such audits worthwhile--they have to find evidence of unreported income. Other things that might make you pop up on the IRS' radar are things like large cash deposits (which are, of course, reported transactions) for people who do not report a lot of income.

That's just my opinion, I could be wrong.
Luv2DriveTT
03-08-2005, 08:54 PM
The CORRECT question should be who has been audited. Period.
<========================this guy!

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Luv2DriveTT
03-08-2005, 08:56 PM
[ QUOTE ]
Anyone know what percentage of the general population is auditted?

Does the IRS look for something or are they just random?

[/ QUOTE ]

I belive the current figure is one in 69 individuals. I reccently saw that discussed on TV.

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dakine
03-09-2005, 02:50 AM
One in 69? I don't think so. They (IRS) don't have the resource's. With that said, did you know that the IRS have contracts with Big time accounting firms to audit individual Tax returns?

audit (ô´dît) noun
Abbr. aud.
1.An examination of records or financial accounts to check their accuracy.
2 An adjustment or correction of accounts.
3.An examined and verified account.

Just thought I'd throw that in.