Re: Proposed book profiling big online winners
Dude, get a clue. Call a CPA. You are trying to bring rationality and fairness into a place where they don't exist. This is the IRS. If you win a million dollars in '06 and then lose it all in '07 before paying your '06 taxes, you do not get a get-out-of-jail-free card. You still owe the IRS the money. How you pay it is your problem. If you dont pay it, they will fine you and/or throw you in jail. However, if you really owe them a lot of money and can't pay it, I hear that they might negotiate with you...
Just be smart and pay estimated quarterly taxes and/or set money aside for tax paying and then you won't have a problem. And DEFINITELY GET YOURSELF A CPA BEFORE YOU GO TO JAIL.
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