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#51
10-12-2006, 03:43 AM
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Re: Neteller and the IRS
[ QUOTE ]
#1 Pay Taxes and sleep good #2 I thought they only notified the IRS on CASH deposits of over 10K. Indy [/ QUOTE ] The IRS CAN be notified of ANY transaction of $3000 or more at banks discretion, and MUST be notified of transactions over $10000. Transactions in either direction, btw. AB 
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#52
10-12-2006, 08:22 AM
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Re: Neteller and the IRS
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I plan on paying my taxes this year, as this is the first for my major online sucess so I was wondering what percentage do you normally pay - 20% or more? [/ QUOTE ] Seems to me it would be more than 20%. More like 40% if you're talking major major(over 100K). Right?
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#54
10-12-2006, 12:06 PM
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Re: Neteller and the IRS
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Is no one here a frickin BANK MANAGER who can answer this question accurately. [/ QUOTE ] well, i am a member of the Bankers Club, but i think that just means i'm an alcoholic.
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#55
10-12-2006, 01:08 PM
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Re: Neteller and the IRS
[ QUOTE ]
[ QUOTE ] I plan on paying my taxes this year, as this is the first for my major online sucess so I was wondering what percentage do you normally pay - 20% or more? [/ QUOTE ] Seems to me it would be more than 20%. More like 40% if you're talking major major(over 100K). Right? [/ QUOTE ] If you have a full time job you can file it as a hobby and not have to pay SS/medicare. If you're self-employed (I am), you have to pay 15% social security on your first 90k. I've made >300k, but I think I'll pay 110-120 or so? I dunno. I'm probably delusional, though.
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#56
10-12-2006, 02:36 PM
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Re: Neteller and the IRS
1. I'd pay the taxes. Mostly because my mom screwed up her taxes in the early 90s and they are [censored] her hard core.
i.e. the few thousand she didn't pay (I dont know the story doubt she was cheating them though prob accidental) has turned into like $150k with penalaties and interest. 2. send half to me and ill put it in my bank account no 10k problem. oh yeah then id uhh send it to you [img]/images/graemlins/smile.gif[/img] 3. start a business and launder the money... no not really though seriously pay some taxes.
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#57
10-12-2006, 04:45 PM
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Re: Neteller and the IRS
1- It is not the IRS that is notified, it is the Treasury. It is called a Cash Transaction Report. Theoretically the IRS has access to this, I imagine, but it may or may not come up. It would definitely come up if you get audited - or it might actually trigger an audit.
2- It is a felony to "structure" your transfers to avoid a CTR if one would have been triggered naturally. A "Suspicious Activity Report" is something else, and it might actually get triggered by structuring. Get one of those and from what I hear it will be a big hassle. 3- Just pay your damn taxes - why do people try to get around that? It is the law. If you make so much that you feel it is worthwhile to avoid them, then you will be in some serious trouble if you get caught (especially after posting on a public forum about it). If it is such a small amount that you would not get in trouble, then paying it should not be a big deal. Just do it and be at peace. R
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#58
10-12-2006, 04:59 PM
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Re: Neteller and the IRS
one quick question. I am keeping a detailed record of my winnings right now (date, profit, hands played, total BR). should i worry about taxes come february and march or should i go see an accountant RIGHT NOW?
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#60
10-12-2006, 05:29 PM
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Re: Neteller and the IRS
Just so you know....when banks report suspicious activity, they are looking for lots of deposits UNDER the reporting amounts.
So if you are "structuring" all your money to fall under $10,000 AND have NOTHING over $10,000....expect a call from Homeland Security.
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