I won 68K Last weekend, now how do I get my money?

[Crispyk]

I hit an 8 team parlay last weekend for 68K

How does this new online gambling bill work and what are my options for getting this money into my bank. How do i go about paying taxes on this money? Or do I dare not pay taxes? Any suggestions?

[SoCalRugger]

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Or do I dare not pay taxes?

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BRILLIANT!

[CCx]

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I hit an 8 team parlay last weekend for 68K

How does this new online gambling bill work and what are my options for getting this money into my bank. How do i go about paying taxes on this money? Or do I dare not pay taxes? Any suggestions?

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suggestions on how to get it into your bank... wire transfer, quick and easy

[Crispyk]

would you transfer it all at once?

[APerfect10]

It doesnt matter how you do it as long as you pay taxes on it. One wire transfer for $68k will do the trick [img]/images/graemlins/smile.gif[/img]

[Beavis68]

if you try doing a bunch of smaller transfers it is likely to set off some flags and violate new laws. Just do it and "pay zee man heez money"

[Sandra Bullett]

Reducing a single large transaction into 2+ smaller transactions in order to avoid the $10k reporting threshold is a crime called "structuring". It is NOT a "new law", being at least a decade old.

It has serious penalties, and is illegal whether or not you declare the $68k for tax purposes.

7+ x <$10k transactions would be a serious bell-ringer. My advice: don't do it.

[StellarWind]

Lots of info on the crime of structuring

[IceColdAces]

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I hit an 8 team parlay last weekend for 68K

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Brag post?

[SoloAJ]

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I hit an 8 team parlay last weekend for 68K

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Brag post?

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Question is quite legit....so I think this post was unnecessary. You'll learn in time though Luke [img]/images/graemlins/smile.gif[/img]