Am I gonna get audited

[woodybluff]

So how much do I report. Like I said I dont know exactly but it is probably in between 15 and 20. And for your information I was not intentionally asking for $1000 checks to avoid paying taxes. I read somewhere that you are reported to the government when you cash a check for more than $1500 and I dont want to be on the governments watch dog list for any reason. Plus Walmart will not cash checks for over $1500 and since I didnt have a bank account until last week they were the cheapest way I could cash them. I had planned on paying taxes by the end of the year but was not expecting to win so much. And now that I only have about $4000 left I figure I would have to give all of it to the government. So I just wanted to see what some of you guys thought about my situation before I decide what I am going to do

[Thrahl]

Paying taxes is for losers. Your not a loser are are you?

[woodybluff]

So tell me aggain how this is aired in the public. Being that I used an email address that has no link to me personally to register with this website how would the government if they chose to do an investigation link this post to me personally. I am not being a smart ass I just dont know to much about computers or internet laws and would really like to know how easy it would be for a member of the IRS to link this post to me personally and whether or not this would hold in court.

[LiveInPeace]

The situation with paying gambling taxes is like this. You have to add up all your winnings for the year on a session by session basis and include that ALL in your INCOME. Do the same with your losses and claim that as a deduction (but only up to the amount of your winnings for the year). What constitutes a poker session is not well defined.

[glimmertwin]

Never mind about audited,

[PBJaxx]

[ QUOTE ]
Plus Walmart will not cash checks for over $1500 and since I didnt have a bank account...

[/ QUOTE ]

Dammit! This cracks me up so [censored] hard! I can't believe you were structuring your withdrawl amounts so you could cash your checks at Walmart!

I am not a stuck-up or rich person, but this may be the trashiest sounding thing I have ever heard. Thank you soooo much OP.

PS - I may get a check next instead of a wire just to check out this Walmart check-cashing thing.

[Arnold_O]

[ QUOTE ]
Hey I am new to this and was just wondering if I have a chance of being audited. I have won between 15 and 20 grand this year in online poker at Pokerstars. Now I have blown most of my money just on partying, car troubles, old debts with my parents, general living expenses, and legal problems-Partying costs more than you think. So right now I have about $6000 --$2000 in the bank and $2000 in cash left over + $2000 more on Pokerstars for my Bankroll. I have not made any purchases major purchases and have only had $1000 dollar checks sent to me each time-this because I read somewhere that an instituion that cashes a check over $1500 has to report it to the government. I have cashed most of my checks from pokerstars at Walmart and have not made a deposit to my bank for mor than $1000 dollars at a time. My bank account has never exceeded $3000. And one other thing. I also have a part time job somewhere else wher I have made about $13000 so far this year but that is all being taxed. Sorry for such a long question but anybody who has been in my position feel free to give some advice. Thanks in advance

[/ QUOTE ]

you actually won zero. don't you remember losing 15 to 20 grand at a casino playing blackjack, poker, roulette?

the online winnings are washed out by the live losing.

it should be in your little black book that details your winnings and losings.

[ QUOTE ]
Couldn't I just say that I lost it all gambling somewhere else since I dont really have anything to show for my winnings

[/ QUOTE ]

yes, but like i said above you need a little book that you need to jot it down in.

line 1. july 6th 2007 --- lost $4,572.00 at Seneca Casino to various poker players (damn i'm pissed at myself, wish i could play live like i play online, oh well...)

[Arnold_O]

[ QUOTE ]
SO what happens if I do get audited. Will I really go to jail.

[/ QUOTE ]

offense level 10 for you, but don't forget about your live losses. you get a couple points chopped off if you been good in the past.

therefore your looking at 0 to 6 months. which means you are almost 100% getting zero unless you call the judge an [censored] or something like that.

hell, 3 months in federal minimum (AKA, a camp) sounds like it could be fun. you get to hang out with a bunch of interesting and smart executives who have been up to no good.


http://www.ussc.gov/2006guid/5a.html

http://www.ussc.gov/2003guid/2t4_1.htm

[Zetack]

[ QUOTE ]
Don't forget to deduct whatever expenses you possibly can like your computer costs, gas to get to Walmart(why not) and other items a CPA might suggest.

[/ QUOTE ]

This is really really bad advice, and clearly not applicable to the OP.

[teddyFBI]

ur not going to jail for this.

Even if u get audited, they'll dock u your taxes owed + a penalty (maybe 20% of the amount owed) + interest.

I didn't read this thread so someone prob already gave that answer herein b/c it's common knowledge. Pay your taxes.