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Old 08-23-2005, 06:28 PM
Wake up CALL Wake up CALL is offline
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Join Date: May 2003
Posts: 1,591
Default Re: Who Pays Taxes on Poker Earnings? (POLL)

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I will be paying taxes on most of my winnings.

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Ha! Fat chance of that happening!

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I rarely play B&M and when I have, I didn't keep track of the necessary info that I needed to report in my taxes. My winnings have been unsubstantial so I won't be reporting them.

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Nice rationalization, let me know if that line works well for you during the audit.


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I also will not be reporting my ring game play. After finding out I'm a losing player at 5/10 6-max I'm slightly above even for the year. I won't be reporting this because it will increase my gross income a little over $6,000. I justify not reporting ring game play because my net income for all of ring play is only a couple hundred dollars.

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So you feel it is the fault of the IRS because your ring game play sux? Man, now I have heard it all.

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While it may not be 100% legal, I don't feel my tax bracket should be increased by gambling that I didn't really "win".

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Actually you really did win it, you just weren't skillful enough to hang on to it.


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I will be reporting all bonuses, rakeback, and tournament play. The amounts are significant enough that even if I wanted to hide it, I would be leaving a trail that would be found in the event I was audited.

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Basically you are saying, "Darn, I'd cheat here too if I wasn't sure I'd be caught." Right?


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I have gone up against the IRS before and lost.

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There is justice in the world after all.

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I don't look forward to doing it again.

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Yet you are willing to do it anyway. The definition of insanity: Doing the same thing over and over again and expecting a different result. Or is that the definition of a fish? Perhaps both.

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Essentially I was naive and used a "crooked" tax agency who wrote off a bunch of stuff that I shouldn't have. "Oh you work in computers, we'll just deduct your home computer and part of your room as work space". I didn't get audited. I got a notice saying that I owed x dollars. I could pay or they would audit me. I paid. They came after me slightly less than 3 years after I filed. Right before the deadline.

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Right, sure it was someone elses' fault. We understand, you really really meant to pay your taxes then but now you feel like it is OK not to do so. GOTCHA!

Please let us know how these feelings work out for you. Perhaps a 1-900-IFEELYOURPAIN hotline will be in your future. If so be sure to keep your massive profits in an offshore account, tax-free you know.
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