N82's blog post

[jungy121]

me too. and also, i would like to add that the most i had on neteller at one time was 13k. but like 9 hours later, when i had 13k, i put it on bodog or something. the other times, were like 1-2k balances

[G-Diddy20]

anyone, please?

[1meandog4u]

[ QUOTE ]
the returns were false because the defendants failed to inform the Internal Revenue Service that they had foreign bank accounts."

[/ QUOTE ]

I'm sure this gets argued a lot, but one could still claim that Neteller is not a foreign bank. It is a money broker. There are some, me included, that rarely keep a balance in Neteller because it was so easy to move it quickly from a U.S. bank account or to an account.

I use it only to broker my withdrawals quicker than a check. Naturally, during one of those transfers, it happened on January 16th...sigh.. and like many here, still waiting for July 13th... the alternate date is "when Hell freezes over.. "

[damaniac]

So there's no consensus on what to do if I never had 10k in Neteller but may have in poker accounts? B/c even if I filed it, what would the number be, since it wouldn't be Neteller's?

[drtofu66]

Chipleeder's post on this thread may answer your question:

http://forumserver.twoplustwo.com/showfl...part=1&vc=1

[ QUOTE ]

I contacted the IRS/Treasury Department Foreign bank directly and confirmed with them that e-wallets such as Neteller are reportable foreign accounts for U.S. foreign bank account reporting (due July 2, 2007.)

While I was at it I asked about monies at online gambling sites such as PartyPoker. This was their reply:

"As for a response on the Party Poker account, it may be harder to determine if it is reportable. If it is just a transfer service account it is not considered reportable."

It is my belief now that:

Most likely, most of monies are held at PartyPoker, PokerStars, etc. not reportable. While all non-US online e-wallets are reportable.

FYI

Chip CPA


[/ QUOTE ]

That thread toward the end also talks about first year filers of the TD F 90-22.1 form having a really high audit rate (I can't verify it-- just letting you know what they are saying). Just when I thought that the NeTeller headache was coming to an end...

[GDadsForever]

If I didn't pay taxes for 2006 would it be unwise to fill out this form?

What's the best course of action right now if I didn't file taxes for 2006, yet had 10k in Neteller account in 2006. Am I just screwed?

[GDadsForever]

Above post is all hypothetical. I did pay taxes, but am speaking for a friend.