#21
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Re: So you\'re planning on not filing your taxes....
i don't want to get into any discussion on tax evasion, or why it is unamerican to not pay taxes, but let me show you a problem with your thoughts.
let's say you are one of the unlikely targets of an audit that has no gambling income reported. when you show up to the audit, you have to bring your bank statements. how do you explain the NETeller transactions? now you are in a pickle. if they see these transactions, you have just graduated from a routine audit to a felony. some would say that they have bank accounts seperate for poker from regular accounts. if this is the case, those people might try and not bring this alternate bank account into the picture. ok, felony number 2 has just taken place. now things get ugly. you have to show them that you are not a drug dealer, just an online poker player. now you are a test case and we get to talk about the results when cubswin posts his news of the week. |
#22
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Re: So you\'re planning on not filing your taxes....
the odds of a low limit poker player getting raped by the IRS over a grand or two of poker winnings is slim to none.
I've filed some year and then skipped a year or two...and then just had my tax guy catch me up on the missed years. If he says don't worry about it...then you shouldn't worry about it. Besides...and this is a coming from him...if you did get audited...you just pay them the money owed and your done..and most the time you can negotiate the amount owed threw new deductions etc. I had a friend audited who works on commision and didnt report like 9000 that he was never taxed on.,..He got audited freaked out about it 24/7 and then after it all was said and down he said it wasnt even that big of a deal. |
#23
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Re: So you\'re planning on not filing your taxes....
this may be off topic, but how does one go about paying taxes on their online winnings? ie is gambling income separate from regular income? and at what point, ie how much do you have to make in a year, do you have to report taxes?
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#24
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Re: So you\'re planning on not filing your taxes....
I seem to remember a year ago you were instructing people on how and where to cash checks so that there are no bank records. Don't you think they could catch that as well?
With so many people involved in gambling today, if the IRS ever gave someone serious grief (criminal charges), the publicity about it could cause a big stink. |
#25
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Re: So you\'re planning on not filing your taxes....
im pretty sure it may be a 1095 or 1059 form..but could be totally off
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#26
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Re: So you\'re planning on not filing your taxes....
Pete Rose went to jail over IIRC $40k in unreported autograph income. The NBA refs got into a shitstorm over first class tickets they downgraded while keeping the cash diff and not reporting. I think the number one issue on whether you get into trouble is if it's obvious you're trying to hide it.
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#27
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Re: So you\'re planning on not filing your taxes....
[ QUOTE ]
Pete Rose went to jail over IIRC $40k in unreported autograph income. [/ QUOTE ] It's all about publicity. Go after Pete Rose and Willie Nelson with major media coverage, and all of us sheep out here are afraid to cross the line. If they went after too many people, the GOP would shut the IRS down. Having said that, you should pay your taxes because you are a good citizen, not because you are afraid of getting caught. |
#28
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Re: So you\'re planning on not filing your taxes....
So how much do you have to make off of poker to file your taxes? Should you file anyways if you've only won a less than significant amount?
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#29
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Re: So you\'re planning on not filing your taxes....
[ QUOTE ]
In 1990, he (Rose) was fined $50,000 and spent five months at a federal prison in Marion, Ill., for tax evasion. He failed to report $345,967 in memorabilia income to the Internal Revenue Service. [/ QUOTE ] linkie all of this income was put together by John Dowd in the infamous Dowd report, it wasn't hard for the IRS to figure out that taxes weren't paid on it. |
#30
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Re: So you\'re planning on not filing your taxes....
I seem to remember a year ago you were instructing people on how and where to cash checks so that there are no bank records
*never* did i tell people where to go. as a matter of fact, people in Ct. sent me PM's asking for the location and i referred them to the yellow pages. you are referring to year old conversations regarding check cashing stores. these stores used to be lax about reporting activity under P-act requirements. this is the enemy, the P-act. not the income. one can be reported for a $2,000 check, and a year ago, this was happening. i pay my taxes quarterly, EVERYTHING i owe. over zealous bank tellers will never have a chance to mess with my income or create problems that need not be created. |
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