i usually play most of my poker at sites that are intertwined with a sportsbook, lately Ive been playing with full tilt, my question is , is poker a little more accepted by the us government my friend was telling me something like if you withdrawal over a certain amount they file a 1099 for you, so this would be reporting taxes, so how would this work in poker if you won like 50 g's. at 5 dimes obviously i just leak it out 5k a week and its stays under the radar. do poker sites work the same?
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i guess reason i ask is because every week someone wins 200k in the sunday brawl tournament, thats alot of cash to leak out so if you could legally get it out and pay taxes, that'd be a plus.Comment -
You can arrange to withdraw any amount you want, but the government will ask for taxes. Anything over 10g's offshore has to be reported. Kinda silly, it's like taxing illicit drugs. If they want a cut they should provide some protection. Small withdraws will continue to slide under the radar, best to stick with that.Comment