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Old 12-23-2004, 07:24 PM
Wake up CALL Wake up CALL is offline
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Join Date: May 2003
Posts: 1,591
Default Re: Who Reports Their Winnings As Income?

[ QUOTE ]
Carl,

Thanks for the story. If I start making 100K, I would report most of it for sure. For the amount I make now, it doesn't make sense to (I don't think), as there is little risk of getting caught.

gm

[/ QUOTE ]

Now this is poor thinking, the penalty for getting caught is the same whether it is for $1000 or $100K. You should be thinking the opposite of what you are.

See Title 18 USC § 371 for the penalty for conspiracy to commit tax fraud.
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