Re: Who Reports Their Winnings As Income?
It makes me shake my head when people think the risk of getting caught are 0. Contrary to what many people think, the government watchdogs are not stupid. They have seen and know more about money laundering and tax evasion than you do.
I have spent a good deal of time investigating these things freelance - I'm not going to jeopardize my license and government security clearance, but I can assure you that
directly depositing into your bank account will be uncovered 100% of the time you are investigated. Now the chance you are audited may be close 1-2% and small $ amounts may be lower risk so you can weigh the odds of breaking the law for yourself - only you can decide whether the 20% or so of your win is worth a potential vacation on Uncle Sam.
There are much "better" ways of evading taxes and laundering money than you have suggested. You're going to need luck on your side.
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