I am worried today
 

Got my check from pokerstars for a recent cashout today. It went through Toronto and I could tell that the US customs dept had opened it because they retaped it with their special tape. Does this mean that they reported it to the IRS? Has this ever happened to you? This will be the last time that I cash out over a grand because under a grand and they use US Mail.

Indy

Re: I am worried today
 

why did they open your mail???

Re: I am worried today
 

[ QUOTE ]
Got my check from pokerstars for a recent cashout today. It went through Toronto and I could tell that the US customs dept had opened it because they retaped it with their special tape. Does this mean that they reported it to the IRS? Has this ever happened to you? This will be the last time that I cash out over a grand because under a grand and they use US Mail.

Indy

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I wouldn't worry, It iss extremely unlikely that customs reported it to the IRS, they wouldn't have a reason to, they were checking the package for illegal substances or goods, not ill-gotten poker gains. And I don't think they talk to the IRS.

Re: I am worried today
 

All mail is subject to Customs examination.

The United States Customs territory consists of the 50 states, the District of Columbia, and Puerto Rico. In general, all mail originating outside United States Customs territory that is to be delivered inside U.S. Customs territory is subject to Customs examination. Mail arriving from outside the U.S. Virgin Islands that is to be delivered inside the U.S. Virgin Islands is also subject to Customs examination.

Mail entering the United States from abroad arrives first at the U.S. Postal Service. The Postal Service then sends packages to U.S. Customs for examination and to assess duty, if indeed any is owed. Customs processing is required for civilian parcels as well as for those sent from overseas military postal facilities (APO/FPO).

Re: I am worried today
 

Thanks for the responses. So am I going to get a bill from Customs for pushing checks across the border?

Indy

Re: I am worried today
 

A couple factoids from the IRS website:

Foreign income. If you are a U.S. citizen or resident alien, you must report income from sources outside the United States (foreign income) on your tax return unless it is exempt by U.S. law.

Gambling winnings. You must include your gambling winnings in your income on Form1040, line 21. If you itemize your deductions on Schedule A (Form 1040), you can deduct gambling losses you had during the year, but only up to the amount of your winnings.

And, in case this applies to anyone (I'm sure the answer is NO)…

Illegal income. Illegal income, such as money from dealing illegal drugs, must be included in your income on Form 1040, line 21, or on Schedule C or Schedule C-EZ (Form 1040) if from your self-employment activity.

I'm sure they get a lot of compliance on that one…

Re: I am worried today
 

I think you would have received a duty bill when you received your mail (or they would have made you go to the post office to pay it before you could get it). I'm pretty sure you only have pay duty on cash or instruments on amounts over $10,000.00 or at least declare it to the IRS over that amount (I'm not an expert - just travel a lot.)

Re: I am worried today
 

[ QUOTE ]
Illegal income. Illegal income, such as money from dealing illegal drugs, must be included in your income on Form 1040, line 21, or on Schedule C or Schedule C-EZ (Form 1040) if from your self-employment activity.

I'm sure they get a lot of compliance on that one…

[/ QUOTE ]

That's how they nail gangsters for tax evasion.

Re: I am worried today
 

Thanks for the posts.

Indy

Re: I am worried today
 

[ QUOTE ]
why did they open your mail???

[/ QUOTE ]
Looking for porn.

Re: I am worried today
 

Almost all the players here just have them transfer the funds to their neteller account and from there it is an easy electronic-funds transfer to their bank accounts.

I guess some have their reasons for requesting checks via the mail (not the least of which is dodging the paper-trail so that that the IRS doesn't know how much money you have).

I'm curious if there are many people who actually ask for their checks via regular mail.
Isn't it just easier to use neteller?

Re: I am worried today
 

MicroBob,

Im just too lazy to sign up for something else like Neteller. Getting a check in the mail and dropping it at the ATM is just easy for me. Neteller can't be doing this service for free either right? How do they make $?

Indy

Re: I am worried today
 

[ QUOTE ]
MicroBob,

Im just too lazy to sign up for something else like Neteller. Getting a check in the mail and dropping it at the ATM is just easy for me. Neteller can't be doing this service for free either right? How do they make $?

Indy

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They make their money off of the sites that pay fees for depositing and cashing out. I am surprised that people actually wait weeks to get money via a check. From a poker site - into Neteller - into my bank account is about 3 days.

Re: I am worried today
 

[ QUOTE ]
MicroBob,

Im just too lazy to sign up for something else like Neteller. Getting a check in the mail and dropping it at the ATM is just easy for me. Neteller can't be doing this service for free either right? How do they make $?

Indy

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They charge the sites, not you, unless you want to make an instant deposit. This is why my initial response to you in the other thread in STT was "Neteller?" Luckily that thread quickly devolved into political bickering, which I tried to stay out of. Anyway, yeah, sign up for Neteller. It's free, and it's quicker.

Re: I am worried today
 

It only takes like 5 days via pokerstars if u cash out over a grand. Only like 8 days for under a grand. Let me ask you this, could I transfer money str8 from Neteller to my account at Cayman National in the Cayman Islands? If so, would there be a paper trail coming from the american banks that Pokerstars uses?


Indy

Re: I am worried today
 

Neteller isn't a US Company, so the US shouldn't have any records from Neteller. A Poker Stars withdrawl would likely take about a day to hit Neteller and then 2-3 days from Neteller to whatever bank.

Re: I am worried today
 

If your reasons for doing checks are what I think they are, my advice is to keep doing checks under $1k. You never know what US laws might change in the future.

Re: I am worried today
 

actually im only doing checks because im too lazy to sign up for neteller. I know that checks must clear from a US bank when I get them through pokerstars so there is definitely a paper trail. I think that the same is true with neteller but perhaps they transfer the $ str8 from the Royal Bank of Scotland to the Neteller account.

Indy

Re: I am worried today
 

[ QUOTE ]
It only takes like 5 days via pokerstars if u cash out over a grand. Only like 8 days for under a grand. Let me ask you this, could I transfer money str8 from Neteller to my account at Cayman National in the Cayman Islands? If so, would there be a paper trail coming from the american banks that Pokerstars uses?


Indy

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I've withdrawn to 2 bank accounts, I don't see why other banks should be any different. If you couldn't do EFTs, I think they do wire transfers (I'm sure there's a fee for this though if they have it). Other than that I would ask them. I play on Party mainly, but I bet it's faster than 5 days withdrawing from Stars, too!

Re: I am worried today
 

what is a "check" lol. Welcome to the 21st century! [img]/images/graemlins/tongue.gif[/img]

Re: I am worried today
 

[ QUOTE ]
Neteller isn't a US Company, so the US shouldn't have any records from Neteller. A Poker Stars withdrawl would likely take about a day to hit Neteller and then 2-3 days from Neteller to whatever bank.

[/ QUOTE ]

Well don't forget Neteller does require your SSN. I think the way it works, and I could be wrong, is that they don't communicate with the IRS normally. But if you are audited and the IRS specifically requests information from Neteller, then they will give them info. Probably another reason (possibly the main reason) they require SSN is to prevent duplicate accounts. Also, FYI, my cashout from Pokerstars to Neteller was literally instant. Right after I hit the "cashout" button in Pokerstars, the money was IN my Neteller account.

Re: I am worried today
 

yes...on pokerstars cash-outs (depending on amount relative to your deposits I believe) it can often-times be instant.
Although it still does take a couple days to get it back to your bank (if that's a concern).

The fact that neteller is free and easy is the greater incentive for me...the fact that it is a little faster than a check in the mail is nice also.


I did not have to give neteller my SS# to open my account I think...but this was over 2 years ago.

I suspect that if I opened a new one THEN I would have to give my SS#.


Yes - it is my understanding (from what I've read here) that neteller, although not an American company, is willing to cooperate with IRS requests.
So your transactions might not be immediately noticeable by the IRS. But if you have a neteller account that is attached to a bank and the IRS decides to come looking into any other transactions that were made through neteller that did NOT appear in your bank, then you are obligated to show them your neteller records (it's the law, so I've been informed). And if you don't cooperate then they can either make assumptions that you're probably hiding something (I think) or they can ask neteller to show them your records, or both.


I think that trying to mess with the IRS in this way is likely not a long-term +EV play.

Re: I am worried today
 

Neteller doesnt ask for your whole SSN. Just the last 4 digits.

But, with that in hand, along with your other info, they do some sort of credit or background check on you. That is how they get the info for their ID verification questions (did you ever live at 4321 Jasper street in Houston? Do you have a brother named Lionel? Did you ever live in any of the following counties?).

Perhaps you gave them the last 4 and dont remember, because it didnt register. I wonder if its worth your time indirectly finding out from Neteller, just in case you care someday.

Re: I am worried today
 

I don't know if the reverse holds (I assume it does), but you cannot use neteller with an American bank account without providing proof of legal US residence.

Re: I am worried today
 

[ QUOTE ]
It went through Toronto and I could tell that the US customs dept had opened it because they retaped it with their special tape. Does this mean that they reported it to the IRS?

[/ QUOTE ]

One agency of the federal government coordinating with another federal agency? I'd say the Houston Texans have a better chance of winning the Superbowl this year.

Hell, the federal government can't even get two people sitting in adjacent cubicles to coordinate with each other.