Probably the Most important post for Online players

Hello everyone hows it going tonight....I really would like this post to be a big disucssion as there are ALOT of posts on 2+2 internet forum about the Taxes and legality of online gambling but they are all very short and vague, and I would like to come up with a GOOD decision based on everyone what to do here. I am wondering How many of you guys Pay your TAXES and your situation you are in (IE. are you filnig as a professional, is this your only source of income, is this a substantial source of your income etc.) We can all get very screwed by the IRS if not paying taxes as the interest will be compounded for years to come and you are required to give taxes on all income. For those that do not pay taxes...do you try to hide it. Also is it possible to open a bankaccount in a third world country and send money there and it wont be illega??? if you dont bring it to the us or just withdraw from neteller in small amounts from ATM...

Ok also, Does anyone here worry about online poker being illegal in the states??? What are the penalties if it is illegal and you get caught and are there any ways to get caught.

Please lets have an open discussion no this for SNGers that are playing fulll time and or part time. As i am sure we woudl all like to feel safe playing and make sure nothing is gogni to happen. Also shoudl we all sign a petition to try and legalize online gamblign in the states...why is it illegal

SORRY IN ADVANCE FOR THE INFORMAL STRUCTURE OF THE POST, JUST JOTTING DOWN THOUGHTS.

PS. Please no flaming for this post if you do not wish to discuss, please do not. Thanks in advance

[gildwulf]

This post should be in internet gambling.

Yes, I stated that, But i thought it would be ncie to put it in the SNG forum as well as it pertains to everyone, and i respect many of the players here and would like their opinion.

PS. If this truly does not belong here. then take it off...i just thought it would be interested to put it here and say whaat many of the sNGERS had to say tHAnks

[lastsamurai]

By law internet gambling is taxable in the United States. I believe penalties is 3x plus interests for late payments depending on how much you win or lose. However you can write off your loses up to your gains...what it comes down to is what you could prove to the IRS in writing (re: records)

[HesseJam]

You know, it might be shocking to you, but, there are online players who play outside of the jurisdiction of the US tax authority. So it might be a bit of a stretch that this is the most important post for all online players.

[raptor517]

the best way to get around is is send only summaries to yer email that you dont make the money. hah. i proved to them im a loser, and my money comes from drugs. holla

[tigerite]

I live in the UK, so obviously the answer is No.

[Freudian]

Yes. But my taxes on poker are a whopping 0%.

[Lori]

Please label your posts more honestly, you just wasted 30 seconds of my life.

I don't pay tax because it is not a requirement.

Lori

[bawcerelli]

[ QUOTE ]
and my money comes from drugs. holla

[/ QUOTE ]

they didn't make you pay taxes on dope?