Won the stars $500+$30...

[mrbaseball]

Your'e actually gonna try to dodge taxes? I'm not so sure that's a good idea.

Congrats on the win though! Hopefully you won't have to tell your cellmate about it.

[fnurt]

Not only is there a form for banks to report transactions over the limit, there is also a form for them to report so-called "suspicious" transactions.

Since we're talking about entirely electronic transactions here, the concern is that a bank may have its systems set up to "flag" certain patterns of transactions. This is up to the whim of the individual bank, so I couldn't tell you if it's something they do or don't do.

I should also note that it is a crime to intentionally structure a series of transactions so as to avoid reporting requirements, although this law is so vague I wonder if it's even enforceable. You'd have to be pretty blatant to run afoul of it.

[Tosh]

Aren't stars pretty flexible with these limits? I've heard people getting special allowance to withdraw large amounts.

[Rick Diesel]

I was referring to the banks reporting requirements to the IRS. I do not know what Stars transactions limits are, but I would guess that there is no limit on what amount you can withdraw.

[MVicuna]

[ QUOTE ]
In a completely unrelated topic.. if I were to get a neteller account and get a neteller debit card, I could withdraw directly from there without any bank records, right? Just curiosity asking. I'm with firepay but they don't seem to have anything like that.


[/ QUOTE ]

You must have missed the news report of the US Gov't Forcing Offshore banks to disclose their US customers who have debit /credit cards in order to track down tax dodgers.

Don't dodge those taxes.

MarkV.

[Mr. D]

Is Poker Stars run out of the United States? I heard from a tax guy that poker winnings on Party Poker aren't taxable because the site is run from outside the US. Can anyone shed any light on taxes as far as Party Poker is concerned?

[swami]

US citizens must pay tax on all worldwide income regardless of their residency or source of the income.

[Toro]

Of all the sites, Pokerstars is probably the one I would least worry about. But having said that, there is no way I would leave 80K sitting in there.

I know you're loathe to pay all those taxes, I would be too, but you know in the end you're not going to risk it.

So, get the money out and secure in your own bank.

[ QUOTE ]


In a completely unrelated topic.. if I were to get a neteller account and get a neteller debit card, I could withdraw directly from there without any bank records, right? Just curiosity asking.

[/ QUOTE ]

Neteller is a Canadian corporation. Canada is the largest trading partner of the US. Need I say more? [img]/images/graemlins/crazy.gif[/img]

[SenorBeef]

[ QUOTE ]

[ QUOTE ]


In a completely unrelated topic.. if I were to get a neteller account and get a neteller debit card, I could withdraw directly from there without any bank records, right? Just curiosity asking.

[/ QUOTE ]

Neteller is a Canadian corporation. Canada is the largest trading partner of the US. Need I say more? [img]/images/graemlins/crazy.gif[/img]

[/ QUOTE ]

Yes. "Trading partner" doesn't mean "shares invasive banking data".