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Old 01-24-2005, 03:56 PM
IlliniRyRy IlliniRyRy is offline
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Join Date: Oct 2003
Location: Chicago, IL
Posts: 71
Default Re: Tax Questions and a Survey.

I'm sure you'll get the usual responses here: people berating you on why you should pay taxes, bla bla. Obviously it's kind of hard to disagree with them. I've been thinking a lot about this too, and to be honest, with poker's enormous popularity right now, I bet eventually the IRS will find a way to crack into the books of all the offshore casinos and find out who's made money and not paid their taxes. The IRS is probably becoming more aware of how much revenue they can collect from people, not only because poker is so popular, but because they now realize that MANY people are capable of making a living at this. Since I'm a poker player, I like to think in terms of probabilities...I don't know the legalities of how far back the IRS can check you, but if it's an infinite amount of time, well then I'd say there's a 99% chance that you will eventually get caught. Right now though? How likely it is would be anyone's guess, but I'd say if you haven't made over $200,000 yet, they won't come knocking this year or the next. If that's the way you want to look at things (well I don't have to pay right NOW, so I'm happy), then that's your prerogative. But I'm paying because I'm in this for the long run. That's the way I see it.
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