Neteller and the IRS

Yakuman · #1 03-18-2006, 09:40 PM

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?

Erik Blazynski · #2 03-18-2006, 11:21 PM

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.

Jeff Oneye · #3 03-18-2006, 11:26 PM

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

GoEAGLES · #4 03-19-2006, 12:25 AM

nice racist comment - I am glad they profile Rugheads

sui generis · #5 03-19-2006, 12:43 AM

they prefer to be called "towelies"

-eric

DarthIgnurnt · #6 03-19-2006, 01:07 AM

[ QUOTE ]
nice racist comment - I am glad they profile Rugheads

[/ QUOTE ]

chicagoY · #7 03-19-2006, 06:57 AM

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

octop · #8 03-19-2006, 07:33 AM

Im white but the IRS still wants to steal my money

Nikademus · #9 03-19-2006, 10:01 AM

[ 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.

mshalen · #10 03-19-2006, 10:08 AM

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.