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Old 07-06-2005, 04:07 PM
CORed CORed is offline
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Join Date: Sep 2002
Posts: 273
Default Re: Online poker and taxes...?

The IRS does do random audits. It's probably pretty low probability that they would hit me, but I sleep better knowing that I won't get nailed. Besides, my net poker income is already over $40,000 for this year and will most likely be well over $50,000 for the year. I don't cash out more than $10,000 at a time, but I don't think that's any guarantee that I wouldn't get caught if I didn't report. I personally don't see tax evasion as immoral, but I don't want to run afoul of the IRS. They fight dirty and the courts support them (judges know where their salary comes from), so I'm going to be a good boy and pay my taxes.
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