Re: Question about taxes....
 

Too bad that the US tax code is based on worldwide income to keep that from working.

Re: Question about taxes....
 

Even worse is that Neteller will have a record of the transaction and they have said that they will share your information with the IRS, if a formal request is made.

Re: Question about taxes....
 

[ QUOTE ]
Don't cash out more than 17,000 in a year and you are considered under poverty level and wont get audited by the IRS. Don't move more than $999.99 a week into US bank accounts and it does not get logged by the bank and sent to the IRS. And when transferring to offshore account, use check and not wire transfer. There are all tips I got from a lawyer friend I was talking to about taxes yesterday >< If you do move 10,000 into your bank account however, you are going to be responsible for taxes on that, if it is still in your partypoker account it is NOT YET liable, I think partypoker operates under the government of Gibraltar, and if you read their privacy policy, the money in your account on party actually still belongs to them, and they have the right to not pay you out if you do not meet certain criteria they specified when you made the account (very rare, but wrong information, age, other fraudulent situations, etc)

BOTTOM LINE: Leak it a little at a time.

[/ QUOTE ]

Okay, I haven't read anything past here, but this "advice" is awful. Moving money "a little at a time" is called structuring and is very illegal. You might want to tell your lawyer friend to look it up sometime.

Re: Question about taxes....
 

" "Structuring" is defined by the IRS as any effort to avoid reporting cash or other monetary transactions over $10,000 by breaking them down into smaller "related" transactions over any 12-month period (defined by USC 31, Sec. 5322-5324-Money Laundering Control Act of 1986, as amended). A structuring violation carries with it a criminal penalty with a mandatory prison term, heavy fines, and confiscation of structured funds and money "connected" to them. (A civil penalty of a $25,000 fine with confiscation of structured funds also exists.) Monetary instruments included in structuring are cash, cashier's checks, money orders, and traveler's checks.

"Structuring" is now defined as money laundering, and is a criminal offense. You can now go to jail for dealing in cash to protect your financial privacy, if the IRS thinks you're trying to hide or structure your transactions or monetary instruments. Furthermore, it's against the law for a bank or merchant to tell you that you might be violating the law. This can get him prosecuted as part of your structuring "conspiracy." If they think your behavior is suspicious, they may fill out a form on you without telling you and file it with the IRS, which will promptly audit you, or begin a criminal investigation. . . . "


Something I found googling for it, you are right, and I'll make sure to show him this. Don't kill the messanger ><

Actually, read through this:

http://www.fff.org/freedom/0394f.asp