paying taxes

[duck_butter]

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Grim,

I spend 30 days/year in the USA, and send the government 33% of my winnings.

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What? Where do you live, Canada? Why not just become a full citizen of the country you reside in 11 months of the year?

[NT!]

I have never heard of this crap. What a joke. It's not enough to tax something that you're trying to prevent people from even doing. The IRS gets a free loan from most people when it deducts taxes from every paycheck, since almost everyone has their withholding set too high. It's not enough to take a chunk out of everything I earn, they want to take it before I even get a chance to make use of it. Screw them.

NT

[fish2plus2]

"What? Where do you live, Canada? Why not just become a full citizen of the country you reside in 11 months of the year?"

I would never be able to legally return to the USA.

[FeNeF]

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I would never be able to legally return to the USA.

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[img]/images/graemlins/confused.gif[/img] [img]/images/graemlins/confused.gif[/img] [img]/images/graemlins/confused.gif[/img]

[yskhyr]

You live in Iran?

[TheWorstPlayer]

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"What? Where do you live, Canada? Why not just become a full citizen of the country you reside in 11 months of the year?"

I would never be able to legally return to the USA.

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I assume you got a good CPA to do your taxes? Because it sounds like you shouldn't be paying any taxes on the first 85K and probably a lot less than you might think on the rest, if you are doing them yourself.

[anduril]

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Do they really pay people to report others? That seems kind of sketchy policy. Grim, I would never try to cheat the US government. Your penalties are VERY harsh.

Btw there is always applying for Swedish citizenship. Keep your money online for 3 years until you get it. I dont see anything positive with being american these days anyway. Atleast not if you like to travel abroad.

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You don't think the IRS will stoop to low levels to get paid? Wait til the [censored] really hits the fan. If they had any brains they already have someone snooping these forums to find guys saying things like "I won 200k this year and not paying a penny in taxes. Screw uncle sam!!"

Those guys are in some deep [censored] if the IRS gets hold of that document.

[Dan BRIGHT]

Donk [censored] with the taxman. Governments will collect and it will suck.

[mikechops]

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you guys pay quarterly tax estimates?

i just talked to a tax attorney today who says I will need to pay every 1/4 and that my wins/losses will offset previous payments so in the end of the year I will get a refund/owe more which seems kind of rediculous. isnt it just easier to pay it all in the end of the year? or will I get penalties for this?

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If you have the cash on hand, it's better to slightly overpay and get a refund rather than risk penalties.

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also, how is the IRS supposed to know if I my "income/winnings" is still in the poker site?

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I'd rather pay taxes than have a significant portion of my wealth in the hands of a site. Also, if there was chance to legalize online poker, do you think Party would pass it up, if it meant reporting their customers' previous winnings?

[NT!]

I've been told that, in the event of an audit, the IRS may be able to get access to Party account info (it is publicly traded on the British market and they may cooperate).

This was from a person I would say is very knowledgeable.

NT