The official NETELLER thread. (First 40 days.) #1 of 2.

[Central Limit]

[ QUOTE ]
I work at a Casino. You can cash out as much as you want and not pay taxes from table games. BUT at 10,000 a CTR (cash transaction report) is sent to the IRS. Not showing you made anything, but rather showing you took 10,000 in cash and now the gov has a record. I'm sure an audit is on the way if nothing is claimed as a win/loss.

[/ QUOTE ]

This is not true. CTR's are sent to the Treasury Department, not to the IRS. The Treasury Department investigates money laundering, not tax evasion. The IRS investigates tax invasion, not money laundering.

[RoundGuy]

[ QUOTE ]
This is not true. CTR's are sent to the Treasury Department, not to the IRS.

[/ QUOTE ]
If you don't think the IRS knows about each and every CTR, then you have your head in the sand.

[fleece_me]

The whole press release sounds intentionally confusing to me.

[beernutz]

[ QUOTE ]
[ QUOTE ]
I work at a Casino. You can cash out as much as you want and not pay taxes from table games. BUT at 10,000 a CTR (cash transaction report) is sent to the IRS. Not showing you made anything, but rather showing you took 10,000 in cash and now the gov has a record. I'm sure an audit is on the way if nothing is claimed as a win/loss.

[/ QUOTE ]

This is not true. CTR's are sent to the Treasury Department, not to the IRS. The Treasury Department investigates money laundering, not tax evasion. The IRS investigates tax invasion, not money laundering.

[/ QUOTE ]

The IRS is a division of the Treasury Department. The IRS processes CTRs for the Treasury Department.
The IRS and CTRs

[thirstyforwater]

[ QUOTE ]
Call the USAO?

http://www.usdoj.gov/usao/nys/

[/ QUOTE ]

Here is the contact information for the guy in charge of the case against the Neteller co-founders:

Michael J.Garcia
One St. Andrews Plaza
New York, NY 10007

(212)637-2200 Phone
(212) 637-2611 Fax

Although I think it might help to hurry them up on this whole thing by calling, they won't discuss the case at all.

One other poster called them and said, "[Y]ou're basically limited to bitching out some underling in the public relations office."

[Frozencanuck]

This is a long thread, and a recommendation may well be in here somewhere, but here's my question.

It's tax time, and I nervously made enough playing that paying taxes on my winnings is probably a good idea. Well now that I can't withdraw my money, which is mostly in my Neteller account, I'm left with a dilemma. Do I pay taxes and take a loan to do so [img]/images/graemlins/frown.gif[/img], or do I file without paying and if all goes well and I can clear out my account, file an addendum next year?

[BigBiceps]

1) hopefully this will get resolved in the next 2 months before taxes are due and you won't have to decide until then.

2) if not, then file an extension and/or work out a payment plan with the IRS.

[Mike Haven]

I would like to quote Ed Miller:

"I want to nip this in the bud. You (and everyone else) with tax questions needs to talk to a PROFESSIONAL. Find a qualified CPA and/or tax attorney to answer your questions.

Seriously. Don’t screw around with taxes and the IRS. I’m not qualified to give tax advice, and honestly, neither is anyone else on an internet forum or blog."

http://www.notedpokerauthority.com/n...olls-over.html

[kdog]

[ QUOTE ]
This is outrageous!

Instead of standing up and saying, "We are a legal and licensed company
based in the UK/Isle of Man. If you want any of our records please take
it to one of our courts where we will fight you vigorously and only if we
lose and have exhausted our appeals will we turn over our records," they
rush over to the US Attorney's office to say "How can we help?"

[/ QUOTE ]

Looks like you're the only stand up guy around Jay.

[MannyIsGod]

How on Earth does Neteller ever plan to resume business now? They sold out their customer base!