Is paying taxes on poker dangerous?

#1 11-08-2005, 11:41 PM

I am a low-limit player who has not yet had to worry about taxes, but one thing confuses me. Isn't playing poker on-line technically illegal?

I am curious how I can claim as income on my tax form something that the US Government considers illegal. Won't I open myself up to the chance, however remote, of being prosecuted for illegal gambling?

greg nice · #2 11-08-2005, 11:47 PM

us government doesnt consider it illegal. i dont know where you got that from, probably hear say.

each state has their own laws regarding the legality of it. therefore you still owe federal taxes regardless.

SoftcoreRevolt · #3 11-09-2005, 12:00 AM

The IRS will not transmit tax information to screw you legally, if it is even illegal.

Mike · #4 11-09-2005, 12:29 AM

Even if you are convicted of selling cocaine, the IRS will tax you on what they estimate your profit to be.

Equal · #5 11-09-2005, 12:37 AM

[ QUOTE ]
Even if you are convicted of selling cocaine, the IRS will tax you on what they estimate your profit to be.

[/ QUOTE ]

Bingo, the IRS doesn't care how you earned the income - only that you paid taxes on it.

Guthrie · #6 11-09-2005, 12:45 AM

You can put "cocaine importer" as your occupation and the IRS will happily accept your taxes. They are prohibited by law from ratting you out to the rest of the government.

tripdad · #7 11-09-2005, 02:10 AM

[ QUOTE ]
You can put "cocaine importer" as your occupation and the IRS will happily accept your taxes. They are prohibited by law from ratting you out to the rest of the government.

[/ QUOTE ]

this is a fact

#8 11-09-2005, 02:17 AM

There are some extensive threads on tax issues currently in the magazine forum. You might check those out.

AngryCola · #9 11-09-2005, 02:22 AM

[ QUOTE ]
There are some extensive threads on tax issues currently in the magazine forum. You might check those out.

[/ QUOTE ]

I'm sure he knows this, because he posted this thread in the mag. forum. [img]/images/graemlins/smirk.gif[/img] We have enough tax threads in there already, and his question is pretty general.

It's just important to me that the mag. forum doesn't become the place everyone starts threads about their tax questions.

Oblivious · #10 11-09-2005, 06:26 AM

Then why do people launder money?