Who Reports Their Online Winnings to the IRS

[RED_RAIN]

[ QUOTE ]
First off, thank you for unlocking the thread.

I am writting a paper on the subject and just wanted to get some fast numbers. I understand this isn't a scientific study but it doesn't have to be to serve the purpose.

I am not sure why the question would be flamed in anyway or why it would be called "poll tarding at it's finest." I understand people SHOULD pay there taxes but the question is how many DO.

Clearly the answer isn't as obvious as some of the initial posters said it was as the results indicate that, at this point, 27 percent of the respondents pay no taxes.

I am sorry for leaving out that initial information of why I was asking the question but didn't think it would be needed to ask a simple question.

Finally, I am thinking I might be flames as I only have 50ish posts and people may confuse me with a new member asking stupid questions but please note that I have been a regular visitor to this site since my registration date (3/05).

I ask that if you have a problem with this poll for some reason, please pm me and I would be more than happy to provide you with further justification.

Thank you in advance for replying.

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That is what I scrolled down for? [img]/images/graemlins/frown.gif[/img]

[MicroBob]

Don't worry about it jst.

At least the re-opening of the thread allowed us to have that hilarious post about the undercover cops gambling the night away 24/7 at Turning Stone casino.

[donut lover]

need question answered....if my money is stuck in netteller,which is offshore, my winnings have not made it back to the states, i dont have the money now so is it taxable????

[WordWhiz]

[ QUOTE ]
need question answered....if my money is stuck in netteller,which is offshore, my winnings have not made it back to the states, i dont have the money now so is it taxable????

[/ QUOTE ]

One more name to give to the feds should I ever get audited and need to cut a deal...

Serious answer: yes; it's taxable.

[Bobo Fett]

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need question answered....if my money is stuck in netteller,which is offshore, my winnings have not made it back to the states, i dont have the money now so is it taxable????

[/ QUOTE ]

You'll want to be reading this:

Frozen Neteller Funds Are Taxable

[andywend]

1. Deposit $1,000 into a poker site at start of 2006.

2. Play great poker all year and turn the $1,000 into $10,000 by the end of 2006.

3. Request $10,000 cashout from poker site into Neteller.

4. Request $10,000 check from Neteller.

5. Neteller processes your withdrawal request.

6. Feds seize your $10,000 and provide no timeframe on IF or WHEN you MIGHT get YOUR money back.

Recap:

You made a $9,000 profit playing poker.

Instead of the $9,000 profit, you are now down $1,000 and scrambling to find a way to come up with the $3,000-$4,000 to pay taxes on winnings you NEVER received to the same entity who seized your money in the first place.

Is there anything wrong with this picture?

[TimWillTell]

[ QUOTE ]
1. Deposit $1,000 into a poker site at start of 2006.

2. Play great poker all year and turn the $1,000 into $10,000 by the end of 2006.

3. Request $10,000 cashout from poker site into Neteller.

4. Request $10,000 check from Neteller.

5. Neteller processes your withdrawal request.

6. Feds seize your $10,000 and provide no timeframe on IF or WHEN you MIGHT get YOUR money back.

Recap:

You made a $9,000 profit playing poker.

Instead of the $9,000 profit, you are now down $1,000 and scrambling to find a way to come up with the $3,000-$4,000 to pay taxes on winnings you NEVER received to the same entity who seized your money in the first place.

Is there anything wrong with this picture?



[/ QUOTE ]


Wow, I'm screwed.
Two years ago I won a prize of 10 million dollars. I never payed taxes on that prize because that gambling-site never paid me the prize.
So now it appears I have to pay taxes on that 10 million; haha!
Double cheers!

[Thremp]

[ QUOTE ]
[ QUOTE ]
need question answered....if my money is stuck in netteller,which is offshore, my winnings have not made it back to the states, i dont have the money now so is it taxable????

[/ QUOTE ]

You'll want to be reading this:

Frozen Neteller Funds Are Taxable

[/ QUOTE ]

IIRC since I skimmed that thread there are regulations regarding monies you earned through whatever, but are unable to get to. Like the Neteller case for example.

I was wondering who was going to report monies as they hit their acct v. when they won it. As I'm sure it'd be interesting for some people who claimed large winnings and then withdrew sums far in excess of their winnings the next year. (IE win 500k in 05, spend 06 travelling on that monies)

[iceman5]

[ QUOTE ]
I find it pathetic that I have to explain this to "a 16 yr police detective" ( iceman5).I am not in law enforcement in any way, shape, or form. The police are not there to watch people win or lose money or try to ID them. They are there to protect them from the criminal element, hopefully before a criminal act ever gets a chance to occur.In case you have been too busy investigating the J-Walkers in your town for the last 16 yrs I have news bulletin for you. In New York State the casino/hotel combo properties are prime targets for a terrorist attack. It meets all or their objectives.
Contrary to what you think, based upon your reply, Dunkin Donuts and KrispryKreme are NOT terrorist targets.You have wasted your last 16 yrs staking them out for nothing. As for treasury agents in casinos. A lot of counterfeit money makes its way into a casino. I hope I dont have to hold your hand on that one, detective.

[/ QUOTE ]

Since this guy is name calling, and sent me a PM saying he cant tolerate "incompetance from someone in my position", Im going to respond.

#1) Since youre "not in law enforcement in any way shape or form", you are in no position to be guessing what the cops are doing there (if they are even there at all). You sir, are the one who is pathetic for posting this crap.

#2) They dont send undercover officers into a place to try to "protect them from the criminal element". Thats ridiculous.

#3) I have no idea what "J-Walker" is.

#4) I doubt that a casino is a major terrorist target but even if it is, having undercover officers inside isnt going to stop someone from blowing it up. Very few city police departments have anti-terrorist units. Maybe New York City does, I dont know, but mostly its HomeLand Securitys job. Besides, your original post had no mention of this. It said "there are 3 US treasury agents that he knows of working the same detail. keep that in the back of your mind for those of you that forgot to pay your taxes". What on Gods green earth does that have to do with terrorists? You implied that they were watching people to see who is winning and not paying taxes. Thats patently ridiculous.

#5) I dont eat donuts. Youre a moron.

#6) Im sure some counterfiet money does make its way into casinos, but again that hs nothing to do with your original post. You insinuated that we as poker players need to be careful because of these undercover officers. WE arent using counterfeit money so that has no bearing on us.

#7) Youre a moron. Have a nice day, sir.

[donut lover]

thanks for the link bobo