Am I gonna get audited - Page 6

En Passant · #51 11-01-2007, 03:35 PM

My friend was in a similar situation last year. He decided not to pay taxes on 10k he had won through live poker and unfortunately, he was audited. He still received one year in prison depite having an immaculate record. He also had to pay substantial fines and has to register as a child predator.

Carolina Pirate · #52 11-01-2007, 03:54 PM

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My friend was in a similar situation last year. He decided not to pay taxes on 10k he had won through live poker and unfortunately, he was audited. He still received one year in prison depite having an immaculate record. He also had to pay substantial fines and has to register as a child predator .

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sounds like not paying his taxes were the least of his problems

buddypup · #53 11-01-2007, 04:22 PM

op, dont listen to 80% of the posts here. It continues to amaze me how people post just wrong information on 2+2, then insult people for asking intelligent questions. The IRS is not even half as bad or evil as people would like you to beleive. You dont have to pay a dime on any of the money you made playing online, as long as the amounts you say are accurate. You can say whatever you want on this forum. People suggesting that it is a bad idea to air this out publicly are just stupid. Does anyone really think the IRS is trolling around internet forums for tax issues? You did the smart thing when withdrwaling little chunks at a time......AND cashing your checks at WalMart. Pokerstars doent report anything to the IRS.
Has anyone, besides myself been audited before? Jail time? You must be retarted, whoever suggested that. If you dont know what you are talking about, dont comment. Send me a PM if you have specific quesitons regarding gambling winnings, IRS tax issues, etc. I have been through 3 audits, used to be a CPA (still have valid CA#), and have filed as professional gambler in the past. Although I am no tax attorney (failed the bar 1st time), I know what is real and what is just forum fluff. The only real intelligent responses in the entire thread are from Blueman. You will not get auidted. Suggesting that the IRS could use a 2+2 post as evidence against you is hilarious. What imaginary court is that idiot talking about anyway? Any idea what it would cost the IRS to take you to tax court, nevermind the salaries they pay to their examiners.

buddypup · #54 11-01-2007, 04:24 PM

[ QUOTE ]
My friend was in a similar situation last year. He decided not to pay taxes on 10k he had won through live poker and unfortunately, he was audited. He still received one year in prison depite having an immaculate record. He also had to pay substantial fines and has to register as a child predator.

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If this is NOT a level......I feel sorry for everyone that come to 2+2.

shipurstack · #55 11-01-2007, 04:30 PM

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I read somewhere that an instituion that cashes a check over $1500 has to report it to the government.

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Is this true? If i goto my bank and cash a 5k check they report that to the government? I thought it was 10k for all that stuff

HensonLosesLots · #56 11-01-2007, 04:33 PM

[ QUOTE ]
op, dont listen to 80% of the posts here. It continues to amaze me how people post just wrong information on 2+2, then insult people for asking intelligent questions. The IRS is not even half as bad or evil as people would like you to beleive. You dont have to pay a dime on any of the money you made playing online, as long as the amounts you say are accurate. You can say whatever you want on this forum. People suggesting that it is a bad idea to air this out publicly are just stupid. Does anyone really think the IRS is trolling around internet forums for tax issues? You did the smart thing when withdrwaling little chunks at a time......AND cashing your checks at WalMart. Pokerstars doent report anything to the IRS.
Has anyone, besides myself been audited before? Jail time? You must be retarted, whoever suggested that. If you dont know what you are talking about, dont comment. Send me a PM if you have specific quesitons regarding gambling winnings, IRS tax issues, etc. I have been through 3 audits, used to be a CPA (still have valid CA#), and have filed as professional gambler in the past. Although I am no tax attorney (failed the bar 1st time), I know what is real and what is just forum fluff. The only real intelligent responses in the entire thread are from Blueman. You will not get auidted. Suggesting that the IRS could use a 2+2 post as evidence against you is hilarious. What imaginary court is that idiot talking about anyway? Any idea what it would cost the IRS to take you to tax court, nevermind the salaries they pay to their examiners.

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He's more right than any post I've seen on here.

There's a lot bigger winners / higher income folks that the IRS is worrying about. Also, if for some strange reason you do get audited, it'll just mean you owe the money. You're not going to jail unless you never end up paying.

The worst thing that'll happen is you might be audited and have to pay some portion of money back. But I wouldn't think you will be, although an Audit can be random so it's not totally out of the question. But I doubt you will based soley on the amount you've won/withdrawn/spent etc.

buddypup · #57 11-01-2007, 04:33 PM

[ QUOTE ]
[ QUOTE ]
I read somewhere that an instituion that cashes a check over $1500 has to report it to the government.

[/ QUOTE ]

Is this true? If i goto my bank and cash a 5k check they report that to the government? I thought it was 10k for all that stuff

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its not true.....it something that he "read" somewhere.

HensonLosesLots · #58 11-01-2007, 04:34 PM

[ QUOTE ]
[ QUOTE ]
I read somewhere that an instituion that cashes a check over $1500 has to report it to the government.

[/ QUOTE ]

Is this true? If i goto my bank and cash a 5k check they report that to the government? I thought it was 10k for all that stuff

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Might be different depending on the bank/institute, but last I heard it was 10k

buddypup · #59 11-01-2007, 04:42 PM

one piece of advice that I can offer is that if you do decide to get shady on your returns......Dont E-File. Send the IRS your paper returns in a big envelope. Its not called an audit anymore, by the way.......its called an "Examination". The examiner's job is to "examine" X number of returns per day. Its much easier to review a 2 page E-File, than potentially 30-50 pages worth of paperwork. These examiners are just like most everyone else. They hate their jobs and want to go home, so they will take the easy way out, like most people. If you are unlucky enough to be examined, the only other thing I can suggest is trying to buddy up with him/her. Try to build up some rapport with them. If they are being straight [censored], request anohter examiner closer to your geographical location. I live in CA, my first auditer was in the main office in NY, and was a prick. I just played golf with the guy that got my case here in CA, after requesting a change of venue.

Jimmy James · #60 11-01-2007, 04:42 PM

Less than like .5 of people making less than 100k will get audited. Do you really think they are going to waste a huge amount of time auditing you, so they can collect the 1k you will owe in taxes? Or do you think they will spend their time auditing millionaires who own millions in back taxes?

Pretty much common sense.