Tax Time

FoodForThought · #1 03-26-2005, 09:26 PM

2004 was my first year where my only source of income was from playing poker online. I live in Massachusetts where gambling is not legal and I am wondering if playing online poker (from Mass) is legal? If not, how will the IRS (and State) react my income tax return? Has anyone dealt with this first hand? Thanks.............

Thythe · #2 03-26-2005, 10:57 PM

They just want their cut. Remember Capone went to jail for tax evasion, not from his other illegal activities. They shouldn't react at all as long as they get their money.

FoodForThought · #3 03-26-2005, 11:04 PM

lol...yes, those are my thoughts too. I'm still unclear regarding the legality of online poker.

SinCityGuy · #4 03-26-2005, 11:05 PM

[ QUOTE ]
They just want their cut. Remember Capone went to jail for tax evasion, not from his other illegal activities. They shouldn't react at all as long as they get their money.

[/ QUOTE ]

Correct.

They went after Tony Montana on tax evasion, not for knocking off Emilio Rebenga, Gaspar Gomez and the Diaz brothers.

mcozzy1 · #5 03-26-2005, 11:26 PM

The tax collecting agencies do not care whether or not your income was obtained legally or illegally.

Uglyowl · #6 03-26-2005, 11:29 PM

The legality of online poker in Mass. (like most states) is a grey area.. no law specifically forbids it. This is like most states.. Pay your money and you will be fine.