[ferrari150]

Hi all, I wanna know if there is any limit on the amount that can be deposited to ur bank acc thru wire transfer?
Because I recently had a wire from bookmaker for 18k. I have another 20k in Bookmaker to withdraw. I posted the same question on covers and people gave me mixed responses over there.
Most common response over there was that as long as I pay taxes to IRS on my winnings, I am safe. Is that true? How can I pay taxes on sports betting? If I want to, How much should I pay in taxes?

All the pundits n pros, pls help us..I m sure ur replies will help newbies like me.
Much appreciated!!

[ferrari150]

Members r viewing but not replying

[ferrari150]

I m still on the same page..refreshing every 5 mins..in a hope to find an answer

[relaaxx]

there is no limit from the bank. anything over $3000 will be kept on file by the bank, anything over $10000 and the infomation that a deposit came into your account and the amount is passed on to the goverment. if you pay taxes on the money as gambling winnings it will be treated as income,like any other income. if you do not pay taxes and the goverment finds out you have a problrm. the key is , if they find out, because there are so many deposits to so many accounts over $10000 it's just very difficult to keep track. what you do is up to you. some would pay taxes some would not.either way try not to worry about it. worrying ruins everything good about gambling. if you think your going to worry about it. pay the taxes. if you think you will not give it a second thought worrying. don't pay the taxes. it is just like another bet. risk/reward. it's up to you.

[durito]

get an accountant, pay owed taxes next year.