What to do with online winnings?

[OrianasDaad]

Pay the taxes on it, and you'll have nothing to worry about. Plenty of threads on that subject.

[jcx]

[ QUOTE ]
of course...you could have thought ahead and opened up an offshore bank in one of the still-safe tax havens in the Carribbean (Turks&Caicos, Nevis, Aguillia or even Belize) and then had the $ wired to that account. Then using your Mastercard issued from that offshore bank, you can withdraw up to $2k daily (least that's my limit) and there are NO reporting transactions tween these offshore banks and ANY tax dept of ANY country. Still. Tho...it's apparent that the US is using it's economic muscle to slowly get the last 40 or so tax havens to come around....sigh...
[img]/images/graemlins/mad.gif[/img]
Jim

[/ QUOTE ]

Unless the IRS already thought of that...

http://www.usdoj.gov/tax/usaopress/2...3_25_visa.html

[Tboner7]

So as long as you add what you withdraw to your taxes at the end of the year, there shouldn't be any problems?

[Petomane]

The threads of pay your taxes & you'll have no worries are of course idiotic. Not while these taxes are being spent on criminal wars of aggression - that's a bigger worry. Take that money & spend it with local businesses - you'll really be helping the economy & your community.
The IRS doesn't think one can make money gambling. Just show receits you lost a bigger amount gambling. The IRS respects receits. It's really that simple.

[Tboner7]

[ QUOTE ]
The threads of pay your taxes & you'll have no worries are of course idiotic. Not while these taxes are being spent on criminal wars of aggression - that's a bigger worry. Take that money & spend it with local businesses - you'll really be helping the economy & your community.
The IRS doesn't think one can make money gambling. Just show receits you lost a bigger amount gambling. The IRS respects receits. It's really that simple.

[/ QUOTE ]

How would you get a receipt showing that?

[Freakin]

[ QUOTE ]
The threads of pay your taxes & you'll have no worries are of course idiotic. Not while these taxes are being spent on criminal wars of aggression - that's a bigger worry. Take that money & spend it with local businesses - you'll really be helping the economy & your community.
The IRS doesn't think one can make money gambling. Just show receits you lost a bigger amount gambling. The IRS respects receits. It's really that simple.

[/ QUOTE ]

So you're going to forge a bunch of receipts for live play or something? Are you being serious? Either pay your taxes, or don't pay them and risk paying penalties + interest later. Don't get involved in felony to defraud the government. How stupid can you be?

Freakin

[OrianasDaad]

It's not like I agree with US tax laws. I'm all in favor of a consumption tax instead of payroll taxes.

Not paying your taxes is just inviting trouble, however.

[obsidian]

[ QUOTE ]
The threads of pay your taxes & you'll have no worries are of course idiotic. Not while these taxes are being spent on criminal wars of aggression - that's a bigger worry. Take that money & spend it with local businesses - you'll really be helping the economy & your community.
The IRS doesn't think one can make money gambling. Just show receits you lost a bigger amount gambling. The IRS respects receits. It's really that simple.

[/ QUOTE ]
Yea, forging receipts. That's a great way. I'd go with that one.

[Petomane]

Who said anything about forging? I have real receits & that's all that counts.

[Guthrie]

[ QUOTE ]
The threads of pay your taxes & you'll have no worries are of course idiotic. Not while these taxes are being spent on criminal wars of aggression - that's a bigger worry. Take that money & spend it with local businesses - you'll really be helping the economy & your community.
The IRS doesn't think one can make money gambling. Just show receits you lost a bigger amount gambling. The IRS respects receits. It's really that simple.

[/ QUOTE ]

Fine. Stop driving on my freeways.