Im screwed!! IRS wants to know where I got that 5k **** from!

rm18 · 06-23-12, 03:01 PM

not illegal to gamble online, just say you lost it playing poker and then you owe nothing

boeing power · 06-23-12, 03:06 PM

You're fuked.

Sandusky is gonna eat your cheese.

PickWinnerAllDay · 06-23-12, 03:07 PM

It isn't illegal to gamble online. As someone else said, just say you lost a lot more than you won.

CheeseBoy323 · 06-23-12, 03:11 PM

To clear things up, I WON 5k, and the book bank wired it to ME, not vice versa..

Iwinyourmoney · 06-23-12, 03:13 PM

So? Pay taxes on the 5k. Tell em the truth and eat the 800-1k

PickWinnerAllDay · 06-23-12, 03:13 PM

Originally posted by CheeseBoy323

To clear things up, I WON 5k, and the book bank wired it to ME, not vice versa..

If they want proof you deposited more than 5K, give it to them.

ChalkyDog · 06-23-12, 03:13 PM

Originally posted by CheeseBoy323

To clear things up, I WON 5k, and the book bank wired it to ME, not vice versa..

Hey bitch

, why fukkin write this shit on a message board? Follow the advice of others on here, and say you lost a lot more than you won. Didn't report the losses did you? Savvy?

CoachTaylor · 06-23-12, 03:15 PM

Pay your taxes. It's the Christian thing to do.

Killer_Demo · 06-23-12, 03:15 PM

hope it works out for ya man. IRS is the biggest gang there is...

bettilimbroke999 · 06-23-12, 03:17 PM

Ya know how you voted for a Socialist....PAY YA FUKIN TAXES BITCH!

Go ahead and keep 50 bucks for yourself and have a nice dinner on that 5k win

- President Obama

manny24 · 06-23-12, 03:20 PM

fukk 'em...what could possibly go wrong?

BranchDavidian · 06-23-12, 03:22 PM

The IRS is monitoring your bank account?

Emily_Haines · 06-23-12, 03:24 PM

Lot's of people get bankwires

Tell them to fuk off

robzilla · 06-23-12, 03:29 PM

wow they have nothing better to do then bother u about 5K? Donald Trump uses 5K as toilet paper.

Sam Odom · 06-23-12, 03:32 PM

Good advice to EVERYONE in USA receiving Checks/BW ----> Pay your TAXES

paranoyd androyd · 06-23-12, 03:33 PM

don't pay these fukkin scum

Living The Dream · 06-23-12, 03:35 PM

He was already cheating taxes if his account has been monitored. I went through irs problems and I smell bullshit... They wouldn't ask where 5k came from out of the blue

Trident · 06-23-12, 03:36 PM

Originally posted by PickWinnerAllDay

It isn't illegal to gamble online. As someone else said, just say you lost a lot more than you won.

Originally posted by PickWinnerAllDay

If they want proof you deposited more than 5K, give it to them.

For someone who claims to be going to Law School you don't give very good advice.

Filing false tax returns is a crime, you can't say oops my bad here are my losing deposits after you are caught.

Sam Odom · 06-23-12, 03:37 PM

LTD , possibly you are correct... but IRS will withhold a return if they see a red flag

gregm · 06-23-12, 03:39 PM

http://www.gambling-law-us.com/Articles-Notes/online-gambling-tax.htm

PickWinnerAllDay · 06-23-12, 03:40 PM

Originally posted by Trident

For someone who claims to be going to Law School you don't give very good advice.

Filing false tax returns is a crime, you can't say oops my bad here are my losing deposits after you are caught.

Who said they are false? And this is an Internet forum. He shouldn't expect good lawyer advice, but your entire post is stupid bc I haven't started yet.

That being said, I have received wires of this size several times and dozens of checks with no problems, so I'm not sure I buy it anyway.

ChalkyDog · 06-23-12, 03:41 PM

Sorry, don't agree with the paying your taxes part on this stuff. I never receive checks over 10K, and as a result, don't pay taxes on any of that.

When I was young and dumb and had a ton of cash, I gambled a ton in Vegas, but even I knew better than to place any bets that had a potential pay out of 10K or more.

PickWinnerAllDay · 06-23-12, 03:43 PM

Originally posted by ChalkyDog

Sorry, don't agree with the paying your taxes part on this stuff. I never receive checks over 10K, and as a result, don't pay taxes on any of that.

When I was young and dumb and had a ton of cash, I gambled a ton in Vegas, but even I knew better than to place any bets that had a potential pay out of 10K or more.

Agreed. They don't look at anything under 10 k for tax purposes and the only reason they look at 5k stuff is for anti-terrorism stuff.

CheeseBoy323 · 06-23-12, 03:46 PM

LoL, Im not making this up.. Ive received checks the last several years, but none were 3k, most were 1500 to 2k at most. Im guessing 3k was out of the ordinary or something and they decided to see what was up.. Anywho hopefully things wont get ugly..
Anywho Im up 6800 at 5 dimes sitting pretty.. Pretty remarkable run actually, Bradley beating Pac got the ball rolling, then I went ham on the nba finals.. Im cashing ALL that out..

CheeseBoy323 · 06-23-12, 03:48 PM

FYI I appreciate all the comments and little advice, thanks, input is always appreciated good and bad

Sportsbetting123 · 06-23-12, 03:48 PM

Do you have receipts of what you deposited? If so, show that and get the amount you owe lowered or eliminated.

Sam Odom · 06-23-12, 03:52 PM

Originally posted by ChalkyDog

Sorry, don't agree with the paying your taxes part on this stuff.

CD , have you ever been audited by IRS for any reason ?

romecloneout · 06-23-12, 03:54 PM

i bet you are sweating

PickWinnerAllDay · 06-23-12, 03:55 PM

Sam, you say to report winnings to IRS. Can you report losses too? If so, why don't people just show tickets in Vegas that lost. Pick them up at the seats in sportsbooks and claim them as your own.

a4u2fear · 06-23-12, 03:56 PM

You're fukked

Trident · 06-23-12, 04:00 PM

Originally posted by PickWinnerAllDay

Sam, you say to report winnings to IRS. Can you report losses too? If so, why don't people just show tickets in Vegas that lost. Pick them up at the seats in sportsbooks and claim them as your own.

You can report losses equal to your winnings but this has to be done when you file your taxes not after you get cuaght.

UntilTheNDofTimE · 06-23-12, 04:02 PM

Originally posted by PickWinnerAllDay

Sam, you say to report winnings to IRS. Can you report losses too? If so, why don't people just show tickets in Vegas that lost. Pick them up at the seats in sportsbooks and claim them as your own.

You cant claim loses on your tax return. However if you do win on the year you can claim loses to lower the taxable income.

milwaukee mike · 06-23-12, 04:03 PM

Originally posted by PickWinnerAllDay

Sam, you say to report winnings to IRS. Can you report losses too? If so, why don't people just show tickets in Vegas that lost. Pick them up at the seats in sportsbooks and claim them as your own.

yes but winnings are reported as income, and then losses (up to winnings) are deducted on schedule a itemized deductions. if you don't have a house (mortgage interest and real estate tax deductions) then the losses probably do you no good until you get 8k or so of them to get over the standard deduction.

so if you won 5k and lost 5k you would have to report both, and i think that's where people say the tax return is fraudulent because it didn't show the income.

Sam Odom · 06-23-12, 04:03 PM

Originally posted by PickWinnerAllDay

Sam, you say to report winnings to IRS.

not exactly... I said if someone receives checks or bankwires (paper trail) from books

you'll read all the time about scooping up tickets to offset a big documented win. aint that simple

Best to deal in cash w/agent or Local for big $$$ transactions. West-U is ok from offshore for walking around money