Re: My Statement
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All,
This is an over looked factor. Even if ZJ was paying taxes on all of these winnings, its possible that he has been paying them in 6 different names, which would make his taxes signifcantly less then they should be because of the escalating tax rate.
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Hey, this is a significant post that seems to have been lost in the noise.
Since Justin's accounts were not all within the same tax paying family unit, it would interesting to know his funding mechanism. If any of the funding accounts were under the names of his relatives, and money flowed to their accounts, they probably have to report gambling income. If any of them opened a neteller account in their name to help Justin, and the account ever had $10k or more in it during the year, they are legally required to fill out a form saying such. That will often trigger an audit in and of itself.
Things can get very complicated at this point. Money flows to and from other people's accounts, but it is Justin's money. Wow, how do you sort out the taxes for this without having broken some kind of tax law?
Now, if there were no independent funding mechanisms, then Party has very seriously fallen down on the job. If all the money was being handled via account transfers, or from the same neteller account, they should have caught this a long time ago.
If the taxman starts following the money trail, Justin and his family and friends who participated may be in for some serious problems.
Ugh. I don't wish those kinds of problems on anyone.
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