Re: Scared of the IRS
"I don't have a CPA, but after reading the myriad of posts on here, I'm not so sure it would make a difference. It appears that any two CPA's can argue over the law and many on here are supposedly tax professionals doing just that from the arguement over just exactly what a session is, to frozen neteller funds, to filing that foreign bank account form. This is the reason why I am scared of the IRS. It would make sense for them to come right out and clear up all of these issues (Im sure all the tax experts will immediately now post how clear it all is, with differing opinions of course). As it stands, it is all very murky for me."
Dear tizlinda:
You're correct about the "murky" part. There are several other areas of the Tax Law in which the IRS makes it difficult for the average taxpayer. The key aspect of these issues is "THEY DON"T TRUST YOU" and they have the stats to prove it. Therefore they make laws that are murky and with limitations. This is true for gamblers, business use of cars, meals, entertainment, and the like. If you say 10,they say 8; if you say 8, they say 6 and so on and so on. Gambling is a pinic compared to taxpayers with a small business.
What a CPA can do is advise you how your gambling income affects your tax return, taking everything into consideration. Basicly what your exposure is and how it relates to "honest mistakes", all the way to "tax evasion". This is based on facts and circumstances, and every gambler is different. So do you have a big problem or a small problem? No one on the forum can tell you, because they don't have all of your tax information and circumstances. Most posters consider it a small problem, and will act accordingly. Other posters will will say it has to be done THIS WAY, or your breaking the law; TOTAL BS. I can honestly say that 99% of taxpayers filing the long forms break the law, sometimes in favor of the IRS. The current "Telephone Excise Tax Rebate" issue is all about gross negilence on the part of the US government, both taking the money and rebating it.
The current Neteller situation is a serious problem, especially if you have used their debit/ATM card. So you need to establish the following; "Whats my exposure" and then act accordingly.
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