Poker Discussion Post

 
Sign in | Join
in
PlayersOnly
Easy credit card deposits
and soft games!
Sign Up Now!
Rakeback
Get cash back after
playing poker!
Sign up now!
PokerStars 
100% Deposit Bonus!
Largest Poker Site!
FullTilt Poker
Non-stop tournament
action all day long!
Sign Up Now!

Poker Discussion


Please help support pocketfives by using our links when choosing to download a new site!
Full Tilt · PokerStars · Ultimate Bet · Players Only · Bodog

   

IRS Audit - Here come the Feds
By -E2- on 11-28-2006 4:21 AM

I've been making my quarterly depsoits for over 3 years on my poker winnings and have been able to deduct enough to have the taxes be minimal.

So I get a letter in the mail from the IRS saying I am to be prepared for an audit on December 12 in Boston. How they got my address in Central MA is beyond me since I have not been winning and made no deposits since purchasing my home.

They explicitly said they want to review all online transactions with THIRD PARTY PROCESSORS and said they have reviewed  my bank accounts and I need to detail all Neteller transactions. Since I have reportable winnings at Foxwoods and Caesars I feel I am going to get shafted somehow.

All I do is pay and pay, and now I can't sleep.

Keep detailed records kids, the IRS is not friendly, we need to pay for the mutilated troops coming home from the "war".
 
 
 

Re(1): IRS Audit - Here come the Feds In reply to
By ForsakenAces on 11-28-2006 4:31 AM

Good luck to you sir.  Keep us all informed as to how it turns out please.  I'm sure a reality check for us all is in order here.

Re(2): IRS Audit - Here come the Feds In reply to
By -E2- on 11-28-2006 4:33 AM

DO NOT PAY YOUR TAXES ELECTRONICALLY through the FEDS system. Send a check from an account that has zero poker related transactions.


Re(1): IRS Audit - Here come the Feds In reply to
By JCasper on 11-28-2006 4:37 AM

Jesus, that is scary man. I hope it all works out ok for you....(Hoping I do not get a letter in the mail)

Re(1): IRS Audit - Here come the Feds In reply to
By SJCX on 11-28-2006 4:48 AM

Whats the biggest online transactions you made into your account from an online account?

Re(2): IRS Audit - Here come the Feds In reply to
By JCasper on 11-28-2006 4:52 AM

From what I hear that does not matter much, but I dont know....Most I ever withdrawal is 800 at a time or so. 

Re(1): IRS Audit - Here come the Feds In reply to
By lwrunner103 on 11-28-2006 5:40 AM

............OOO SHIT!

Re(1): IRS Audit - Here come the Feds In reply to
By NI_HAN_NI_HAN on 11-28-2006 5:46 AM

http://www.nontaxpayer.org/

Re(1): IRS Audit - Here come the Feds In reply to
By NI_HAN_NI_HAN on 11-28-2006 5:52 AM

THere is NO law saying you have to pay federal income taxes!!!!!!!!!!!!!!!!!!!!!!! None zip zero!!!!!!!!

very interesting documentery from Arron Russo American Freedom to Fascism..A little long

http://video.google.com/videoplay?docid=-4312730277175242198&q=Aaron+Russo%27s&hl=en

Re(2): IRS Audit - Here come the Feds In reply to
By ucantbeatthemeat on 11-28-2006 6:05 AM

There is also no law that says you WONT go to prison for not paying said taxes.

Re(1): IRS Audit - Here come the Feds In reply to
By mainemonster on 11-28-2006 6:26 AM

Hey E-2,

Make sure one of your budddies isnt laughing his ass off right now.  This sounds like the perfect little gag to play on a fellow poker buddy.   "not even sure how they got my address?".   Good luck if it is real letter.

Re(3): IRS Audit - Here come the Feds In reply to
By edbite on 11-28-2006 7:19 AM

Tell that to Crazy Cabbie from the Howard Stern show.  He went on air saying exactly what you did and what the guy in the article is saying. He said he didn't pay his taxes and that he didn't have to.

Well, he just finished a year in prison, is on probation, and is now considered a felon.

Just sayin.....

Re(2): IRS Audit - Here come the Feds In reply to
By steve on 11-28-2006 7:23 AM

It's the federal government, if they want to find you, they can.  If by no other means they could have checked property records and found out that you bought a new place.

Oh, by the way, the law that authorizes Congress to levy income taxes (and implicitly requires citizens to pay them) is the 16th Amendment to the Constitution.  Anyone who tells you otherwise is quite foolish, and trying to free ride on our system.

Re(1): IRS Audit - Here come the Feds In reply to
By HoosierAlum on 11-28-2006 10:47 AM



If you have a Neteller or similar account with $10,000 or more at any time during 2005, you must report it to the government. You do this by checking a box on Schedule B of Form 1040 (and listing the country/ies) and by filing Form TD F 90.22-1 with the Department of the Treasury (not the IRS). It's almost certain that if you do this you will be audited.

Did you report this at any time to the government?

Re(2): IRS Audit - Here come the Feds In reply to
By Cmoney3 on 11-28-2006 11:05 AM

say i profit 10,000 even, what % can i expect tp pay in tax?
 
Return to Top
Page 1 of 2 (25 items) 1 2 Next >


P5's Member Blogs
War, Poker, and Life...
By The Maven - added Nov 28 2008, 04:08 PM
live Tournament
By younggun_AK - added Nov 27 2008, 11:39 PM
A good score
By lukaluka05 - added Nov 30 2008, 05:53 AM
 
This week's podcast features interviews with ESPN's World Series of Poker co-host Norman Chad and Top 10 Online Player Steve 'gboro780' Gross.

P5s Podcast, Nov 20, 2008
Thur, 20 Nov 2008 12:00:00 EST
This week's podcast focuses on new UIGEA regulations that are scheduled to be enacted in January 2009.  John Pappas of the PPA and Jeff Sandman of the Safe and Secure Internet Gambling Initiative join us.

P5s Podcast, Nov 13, 2008
Thur, 13 Nov 2008 12:00:00 EST
 
Little Wins!
2008-11-12 04:36:16
Both Jonathan's Double, Not Much Changes
2008-11-12 03:42:55
PocketFives.com Rankings
Rank PLB PRO
1. AJKHoosier1 1 1
2. moorman1 5 2
3. gboro780 4 4
4. djk123 6 3
5. shaundeeb 7 5
6. TheRealPokerccini 8 8
7. eisenhower1 9 9
8. breeth 2 19
9. Stamdogg 10 16
10. P0KERPR033 21 6
P5s Sortable Rankings
Rank PLB
 1. ryanbluf 6078.52
 2. Mr_BigQueso 3598.81
 3. Hazmat2001 1967.66
 4. MAFinest22 1809.36
 5. cactusjak9 1345.03
 6. Fajzher 1286.40
 7. hustler2727 1099.61
 8. Raf1318 887.42
 9. spudd69 743.03
 10. dirtdogjd 553.58