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Old 12-27-2005, 07:21 PM
pzhon pzhon is offline
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Join Date: Mar 2004
Posts: 66
Default Re: Is moving up this way okay?

[ QUOTE ]

Just because the card room isnt legal doesnt mean you dont have to pay taxes on winnings from it.

[/ QUOTE ]
Indeed. If you sell cocaine, you owe taxes on your profits. If you accept a bribe, you owe taxes on it. If you steal, you must report the fair market value of the stolen property.

IRS link

Playing in an illegal cardroom is not necessarily illegal. Evading your taxes is.
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