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#22
10-19-2006, 01:12 PM
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Re: I won 68K Last weekend, now how do I get my money?
[ QUOTE ]
[ QUOTE ] You pick 8 different bets and you bet them as a single entity. [/ QUOTE ] He wasn't asking for the definition of a parlay, he was asking what the picks were. [/ QUOTE ] hah, yea, thanks for the effort you put in tho. i know what a parlay is, i just wanted to know what games he had and if they were all 50-50 games or if there were some money line games, etc. 
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#23
10-19-2006, 01:39 PM
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Re: I won 68K Last weekend, now how do I get my money?
[ QUOTE ]
Reducing a single large transaction into 2+ smaller transactions in order to avoid the $10k reporting threshold is a crime called "structuring". It is NOT a "new law", being at least a decade old. [/ QUOTE ] By "new" I meant "different" laws. It was poorly worded. What I meant was, besides not paying taxes there could also be other violations add on if he tries to sneak in under the radar.
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#24
10-19-2006, 01:58 PM
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Re: I won 68K Last weekend, now how do I get my money?
[ QUOTE ]
[ QUOTE ] Reducing a single large transaction into 2+ smaller transactions in order to avoid the $10k reporting threshold is a crime called "structuring". It is NOT a "new law", being at least a decade old. It has serious penalties, and is illegal whether or not you declare the $68k for tax purposes. 7+ x <$10k transactions would be a serious bell-ringer. My advice: don't do it. [/ QUOTE ] My advice, PAY TAXES! If you don't want to raise flags for an audit. Make like a $5K transfer this week, then do a $6,500 next month...then do a $2K and a $2.4K the week after. (at least that's how I do it, slowly take money out, and do it over a long period of time) I pay 100% of my taxes, but I figure at least doing small amounts over a long period of time might not signal an audit which is ANNOYING AS HELL! [/ QUOTE ] you may want to rethink this now that you have just admitted you are knowingly committing a crime.
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#25
10-19-2006, 04:06 PM
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Re: I won 68K Last weekend, now how do I get my money?
[ QUOTE ]
[ QUOTE ] [ QUOTE ] You pick 8 different bets and you bet them as a single entity. [/ QUOTE ] He wasn't asking for the definition of a parlay, he was asking what the picks were. [/ QUOTE ] seriously, holy misinterpretations batman. [/ QUOTE ] I am pretty stupid sometimes. I really thought he didnt know what a parlay was. I remember when I first started playing poker online, having never played live, I didnt know what 'rake' meant. Hell I have been a programmer for 9 years now and I still cant give you a good definition of polymorphism.
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#26
10-19-2006, 04:33 PM
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Re: I won 68K Last weekend, now how do I get my money?
Do you have to pay taxes on something like this immediately or can you wait until next April??
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#27
10-20-2006, 09:58 AM
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Re: I won 68K Last weekend, now how do I get my money?
[ QUOTE ]
Do you have to pay taxes on something like this immediately or can you wait until next April?? [/ QUOTE ] Estimated Quarterly taxes, or you can wait until April and pay the taxes PLUS penalties PLUS interest.
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