[PokeReader]

Please read the long thread on FBAR's. FBAR penalties can be worse than tax evasion. There is no non-fine for failure to properly file FBAR, if you meet 4-part test will still be fined 5-10% of account max. If a FBAR filer used his account to evade taxes, you cannot qualify for unwilling FBAR status, and hit the 50% of account max or 100K whichever is more. Furthermore, no one is sure, as there is no available FBAR extension that FBAR penalties will not accure to late filers. Hopeful unlikely, but IRS has not given guidance on this.

You need to contact a tax attorney, not a CPA. A tax attorney is allowed to advise you if you are better off if you file late...., or some other way. Be sure that you are aware you can only net if you are filing as a professional gambler. Otherwise you must file on winnings only. Seek professional advice people. Especially if you did something you shouldn't have. Max. penalty for FBAR: 10 years and/or $500,000. Don't be surprised if they use this to punish some big fish who should have been smarter to further frighten off the fish from internet gambling. Also, I don't know if they will pursue it, but there are FBAR implications for peer-to-peer transfers. Read the thread.