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Old 06-29-2006, 05:50 PM
ElaineMonster ElaineMonster is offline
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Join Date: Sep 2005
Location: Las Vegas
Posts: 1,465
Default Re: Upcoming financial law bad beat

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Meh...I dont particularly like it..but worse things could happen.

I to report all my income....the shitstorm that happens after and audit if you arent honest just isnt worth the tax savings Id get.

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FYI, audits happen to people who are honest, too. In fact, sometimes large wire transfers trigger audits regardless of whether the income's been reported correctly or not.

Taxes are sort of a nightmare for anyone who plays poker for part of their income. However, it's less of a threat if you report everything: They might take more money and cause hassle with an audit, but you don't get thrown in prison.
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