CPA on when Neteller $ returned

[Poker CPA]

"There is no credible evidence that the DOJ has in fact seized $55 million."

Thats news, but assuming you're right, DOJ does have pending action two former agents/employees/shareholders of Neteller. They want Neteller any way they can. They can have IRS indirectly go after them too, via Neteller's customers.

The IRS doesn't need Neteller to voluntarily produce anything. Its a simple process of issuing "John Doe" Summonses to all the US banks who have a business relationship with Neteller. Its a fairly simple process to start, but I'll admit, a bitch to complete. They CAN and they WILL.

[surfinillini]

I also have an issue with how people are perceiving this situation.

First of all we have to be honest with ourselves and acknoweldge we are in UNCHARTED and PRECEDENT SETTING territory. In US history there has been no identical situation as to this one.

First of all, the issue of the money people have gotten confiscated from their neteller accounts. My feeble minded perspective is as follows.

Say you own 1000 shares of IBM stock. It has a value of approximately $100,000. This stock is sitting in a Merill Lynch account and has not been sold. Some SEC investigation finds out that IBM did this and that which was super illegal, their company is frozen and so are your shares. Do you owe taxes on that $100,000? Of course not, and I would not pay a dime until the investigation was completed.

If the money that the DOJ confiscated is ruled to be the result of an illegal act, then I would pay taxes at that point. I would not be in a hurry to pay taxes on eMoney that has never graced my fingertips.

just my opinion