Can they track it?

[smerika]

If you use a site like Firepay or Netteller to receive regular payments from a poker site, does the IRS know? Do banks report that kind of thing? If an internet poker player did not report winnings from those sites, would anybody know?

[Niediam]

No

The banks are required to report anything 'suspicious' in addition to any transaction over 10k.

No - but you are #$^#$^ if you are ever audited.

CRAP I JUST MADE A 12K TRANSACTION...what's going to happen

[smerika]

Yeah, I would think somebody might do lots of little ones instead of a large one. Less likely to set off any alerts?

[Jeffage]

Jesus Christ, just pay your [censored] taxes.

Jeff

[smerika]

If you pay taxes on online winnings, does it highlight that you are playing poker online?

[Percula]

[ QUOTE ]
Yeah, I would think somebody might do lots of little ones instead of a large one. Less likely to set off any alerts?

[/ QUOTE ]

That is called structuring and will get you into more trouble than a $10K transaction...

[Jeffage]

No one has ever been prosecuted solely for playing online poker in the United States - general interpretation is it's not against federal law and that's how I see it. Many people have been prosecuted for tax evasion...remember, Al Capone went down for tax evasion, not murder or racketeering, etc.

Jeff

OK ILL PAY MAH TAXAS

[Niediam]

[ QUOTE ]
CRAP I JUST MADE A 12K TRANSACTION...what's going to happen

[/ QUOTE ]

The bank lets the IRS know that you made a 12k transaction.