Besides the Ethical Implications........

[mscags]

Yeah, I just didn't understand how just because the visa is "offshore" the IRS couldn't track it. I mean, I guess there really is no way for them to know if you have an epassporte visa, since its not connected to any bank. Maybe thats the reason, because it isn't connected to any bank, the irs would have to do a lot of work to find out if you even had one. Someone correct me if I'm way off here....

[amulet]

i pay taxes on 100%. however, i know plently of players who have 2 sets of books, or pay taxes on whatever percentage then can get away with and still show a lifestyle that makes sense. yes if the irs wanted to they could probably pressure an offshore visa, but it would be a lot of effort, and unlikely. i think that is the best way if your not reporting, or not reporting a significant percentage.

[BigF]

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So the obvious answer is to withdraw all winnings via Neteller debit card? Am i mistaken in thinking neteller is also based outside the US, and probably wouldnt give records to the IRS?

jvs

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Since 911 Neteller has agreed to release any financial records requested by the proper US authority. It was to abide by a formal agreement between the US and Canada.

So they do not automatically submit the data to the IRS but it will not be witheld if requested.

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That, and the debit card is drawn off of a US bank.

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I'm stunned every time I hear people on these forums say that you could use Neteller debit card to get cash and not claim the income because there's no paper trail. They were being serious too.

[trainslayer]

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staffed to the max with affirmative action hires that are borderline incompetent.


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please elaborate.

being aa makes one borderline incompetent?

what about the incompetents that aren't aa?

[FlFishOn]

Phone them with some issue you need to resolve and you will understand.

It's easy to prove that as a group, AA hires are less qualified than merit hires.

[FlFishOn]

This couldn't be easier to understand. If cheating the IRS was -EV then the US Treasury would profit from all cheating on a collective basis. This is clearly not the case. That makes cheating +EV. Most crime is +EV.

There are some minor, subtle arguments that bear on the issue but it doesn't change the net.

[trainslayer]

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Phone them with some issue you need to resolve and you will understand.

It's easy to prove that as a group, AA hires are less qualified than merit hires.

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not very much elaboration

[grimel]

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there is a tremendous amount of incorrect information in the above posts.

the US law states you MUST pay taxes on all income earned worldwide.

but remember all money made anywhere is taxable under US law.

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You are right a tremedous amount of incorrect information. Here is the same thing posted 2x in one post. Income earned outside the US may or may not be taxable depending on other factors none of which relate to poker. Poker winnings would be 99.9% likely to be taxable. If you are in the 0.1% you know it already.

[grimel]

PayPal is a US based company. AFAIK, you have to have a bank account associated with your Paypal account. If the IRS wants PayPal records Ebay (PayPal's owner) would cave so fast your head your head will explode. Ebay has caved (and had Paypal cave) on so many LEGAL items/sales to avoid any petty gov led legal issues (which they would 100% win or the US economy would be trashed).

[grimel]

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It used to piss me off to pay taxes. It doesnt bother me as much now as I think of poker as income, and rakeback as a tool to subsidise taxes. While there is no legal implications with this line of thought, it just makes me feel better about paying taxes.

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Too bad it still doesn't. If more people paid taxes and were pissed about it then maybe we could get something done to correct the insanity.