1. 09-17-12 05:45 PM #1
    Justin3587
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    How to hide your money...

    Okay, so I deal with Heritage, and when I do withdraw(Every blue moon), I usually get ** or **. Granted, the fees are outrageous, but I think with **, and **, it makes it harder for Uncle Sam to try to chase down my money. Basically, I don't really want to pay a ton of taxes on my gambling winnings, because I can't claim my damn losing! So, I would like to know from avid bettors, how they would handle this kind of dilemma. Meaning, your methods of withdrawal and all that stuff.
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  2. 09-17-12 05:56 PM #2
    The Kraken
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    No mames guy...

    Just know that should you get caught, the penalties and interest are steep

    Just another gamble we take
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  3. 09-17-12 06:01 PM #3
    Justin3587
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    Why were the cash transfer things marked out?
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  4. 09-17-12 06:04 PM #4
    Justin3587
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    nevermind, i see
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  5. 09-17-12 06:05 PM #5
    Maniac
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    Protection of the varius money prrocessing options that are available is why they were blocked out.
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  6. 09-17-12 06:11 PM #6
    FuzzyDunlop
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    If you don't think the Government doesn't have a record of cash transfers, you are obtuse.
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  7. 09-17-12 06:11 PM #7
    Boner_18
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    Pay your taxes. Find losses.
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  8. 09-17-12 06:16 PM #8
    Boner_18
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    Quote Originally Posted by FuzzyDunlop View Post
    If you don't think the Government doesn't have a record of cash transfers, you are obtuse.
    And yes. As a non-bank money transfer agent each agency is required to report single transactions of 3k or more and groups of transactions within the US totalling 5k or more (grouping defined in the IRC).
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  9. 09-17-12 06:17 PM #9
    Boner_18
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    And that's just the IRS. DoD prolly knows about lesser amounts but they don't necesarilly play nice with the IRS.
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  10. 09-17-12 06:18 PM #10
    Jayvegas420
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    I thought you could write off your losses up to a certain amount?
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  11. 09-17-12 06:59 PM #11
    Boner_18
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    Quote Originally Posted by Jayvegas420 View Post
    I thought you could write off your losses up to a certain amount?
    To the extent of your gains. This means you pay taxes on net winnings, effectively.
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  12. 09-17-12 07:33 PM #12
    Sunde91
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    Withdrawing every blue moon at probably 1-2k tops means you have nothing to worry about at all.
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