Neteller and the IRS
 

If I make regular, large EFTs from Neteller/Firepay/etc into my normal checking account, am I setting up a big red flag for the IRS that screams "AUDIT ME?"

Even if I fill out my tax forms properly, isn't this asking for trouble?

Re: Neteller and the IRS
 

as long as you pay tax on the money you should be fine, but the patriot act is going to flag you as a terrorist unless your white.

Re: Neteller and the IRS
 

How would the Patriot Act "flag you as a terrorist unless your white?"

Re: Neteller and the IRS
 

nice racist comment - I am glad they profile Rugheads

Re: Neteller and the IRS
 

they prefer to be called "towelies"

-eric

Re: Neteller and the IRS
 

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nice racist comment - I am glad they profile Rugheads

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http://www.mullings.com/cc7-17.jpg

Re: Neteller and the IRS
 

Anti-White Racism: Every fool's last refuge. By the way, what race does this fellow think Arabs are?

Re: Neteller and the IRS
 

Im white but the IRS still wants to steal my money

Re: Neteller and the IRS
 

[ QUOTE ]
If I make regular, large EFTs from Neteller/Firepay/etc into my normal checking account, am I setting up a big red flag for the IRS that screams "AUDIT ME?"

Even if I fill out my tax forms properly, isn't this asking for trouble?

[/ QUOTE ]

I don't know if the transfers will trigger an audit. However, should you be audited, the first thing they look for is bank transfers. So you'd best have an explanation if you aren't declaring your poker winnings.

Re: Neteller and the IRS
 

To answer the OPs question. If you make EFTs deposits into your personal checking account - the actual amount of dollars per time period varies from bank to bank - then the bank will report you to the Treasury Dept. and you may get a visit from very large men who carry guns. Other triggers are round deposits ie $5,000 or large ie. $9,700. If the deposits are into a commercial business account and are typical invoice types of numbers ie $8,236.91 then generally this will pass without a flag.

If you are making large sums and not paying the IRS you 1) will eventually get caught and 2) will not enjoy spending a vacation paid for by taxpayers at your local federal resort.

Re: Neteller and the IRS
 

what about using a neteller debt card - i dont see how this is traceable

Re: Neteller and the IRS
 

In answering a reporter's question as to whether he was anti semitic, Bobby Fisher said, " No I am not anti semitic, I like Arabs."

Re: Neteller and the IRS
 

[ QUOTE ]
what about using a neteller debt card - i dont see how this is traceable

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The Neteller debit card goes through a US bank.

Re: Neteller and the IRS
 

[ QUOTE ]
To answer the OPs question. If you make EFTs deposits into your personal checking account - the actual amount of dollars per time period varies from bank to bank - then the bank will report you to the Treasury Dept. and you may get a visit from very large men who carry guns. Other triggers are round deposits ie $5,000 or large ie. $9,700. If the deposits are into a commercial business account and are typical invoice types of numbers ie $8,236.91 then generally this will pass without a flag.

If you are making large sums and not paying the IRS you 1) will eventually get caught and 2) will not enjoy spending a vacation paid for by taxpayers at your local federal resort.

[/ QUOTE ]

You also forgot the part where if the OP makes withdrawals in round amounts in order to avoid rasing red flags and gets caught, it is a federal crime called structuring.

Just pay your taxes man.

- Jags

Re: Neteller and the IRS
 

The best way to not raise a red flag is to not do anything out of the ordinary, which includes trying to cheat or hide money. Keep accurate records. Report everything. Take reasonable deductions where you can. If you are into serious money like thousands and tens of thousands of dollars, then stick a friggin' crowbar in your wallet and hire a CPA. If you don't do these basics by the book, then you deserve anything that comes your way.

Re: Neteller and the IRS
 

Just keep all your money in cash in a little vault at home. Who uses credit cards and banks anyways? And if you want to deposit, stuff a couple benjamins into a white envelope and send it to your favorite poker site!

Re: Neteller and the IRS
 

[ QUOTE ]
what about using a neteller debt card - i dont see how this is traceable

[/ QUOTE ]

FWIW, I have heard that Neteller will co-operate with the IRS and will supply a transaction level report of your account.