Who Reports Their Winnings As Income?
This is actually a question for those who are keeping their winnings from online poker under the table. What do you think the safest, and cheapest, methods of doing this are?
Here are the possibilities I've come up with. Please let me know your thoughts (unless they are of the pious/moralistic variety, in which case don't bother):
1. When cashing out, have a check mailed to you. Cash the check using a check-cashing service, pay the 3-7% fee, and feel good that you are not paying the 20-40% fee charged by the government. This method seems very safe to me, although it is somewhat of a hassle and there will always be a 3-4 week delay between your cashout and your receipt of the money.
2. Cashout using NETELLER, and then withdraw the money using a Neteller ATM card. This is easy and convenient, but probably not too safe. That is, I have no idea if the IRS could get access to your Neteller records or not. Anyone know?
3. FPS-epassport Virtual Visa. Again, easy and convenient. However, I would guess this is also the least safe of all methods, as it is associated with Visa and thus likely linked to your credit report.
Other methods I'm forgetting??
TIA,
gm
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