Tax Questions Forum

[Knockwurst]

We see enough tax questions including my own, how about a tax question forum? Of course with the usual disclaimers. /images/graemlins/wink.gif

this would be nice, I've spent a few hours researching gambling tax law and it is way cooler than I thought.

[warlockjd]

I like this idea, but the vast majority of answers would be, "Yes you have to pay taxes on them, you cheap [censored]!"

I suspect, for liability reasons, the forum would be restricted to simply a set of links to various gambling tax sites/laws on other sites. By creating a forum specifically for tax question, and given 2+2 is moderated, I'd be paranoid about someone who got audited coming back at 2+2 saying "They created a forum just for tax questions and they moderate it. 2+2 has a responsibility to ensure posts won't condone illegal tax actions".

Not saying 2+2 actually would bear any such responsibility, but just the cost of defending in such a suit would be problematic.

This would be very nice as I am young and would love to get tax deduction advice form some of those more experienced at paying those damn things.

I am a CasinoBlasters affiliate. CasinoBlasters is an online casino gambling company based in Canada. I am a resident of the United States of America. I get paid 50% of the profits when a player that I refer loses money. Do I have to report any of my earnings to the IRS since 1. I am a US citizen and CasinoBlasters is a Canadian company or 2. The nature of the business is online gambling. Would either of these be reason enough not to have to report my earnings to the IRS?

Thanks much,
Darren

[I.Rowboat]

This has been answered before: Yes, as a US citizen you have to pay taxes on virtually all income, including "overseas" income. This certainly falls into that category. The legality of the enterprise doesn't matter: drug dealers, embezzlers, gamblers, etc. all owe income tax to Uncle Sam, even if the source of the income is highly tainted. Remember, Al Capone was convicted on tax charges relating to his unreported illicit income, not on the illegal activities that were the source of that income.

Standard disclaimer: I am not an expert, just another user of these forums.

[OtisTheMarsupial]

I think there should be a general money management forum and tax questions should go in there.