Re: Ed Miller\'s Tax Article
Online gambling businesses are currently illegal in the U.S. It could be a mistake to assume that will continue indefinitely. A political solution could appear that makes Party and friends 100% legitimate. Certainly there are many people who would like to see that happen including U.S. business interests that would like to join the game.
There will be a price for legitimacy. The offshore businesses will be required to cooperate with the IRS, FBI, and every other Government agency that cares about financial transactions. Years of old records could be turned over to the IRS in the blink of an eye. No casino is going to risk their access to the U.S. market by refusing to comply with a rule they don't even care about.
|