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Posted: Sun, 31 Dec 2006, 6:29pm Post subject: income tax return |
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High Card
Joined: 18 Dec 2006
Posts: 14
WPP: 90
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| just wondering, a question to all of you winning poker players who make extra cash, do you guys have to do your income tax return(applies to U.S. players only). just wondering because if i ever get the chance to start making money, i was wondering if i am going to have to report all poker earnings to the income tax return, any of you guys know the facts about this issue? also, would you guys do the income tax return if it was mandatory or would you guys just ignore it , would anything bad happen and also would they be able to catch you . thanks . |
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Posted: Sun, 31 Dec 2006, 6:46pm Post subject: |
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Two Pair
Joined: 23 Apr 2006
Posts: 47
WPP: 127
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looking at your handle declare it, pay it, mybe think of a different career.
happy new year |
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Posted: Mon, 01 Jan 2007, 5:22am Post subject: |
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4-of-a-Kind
Joined: 22 Apr 2005
Posts: 3173
WPP: 88
Location: Putney, UK; Full Tilt,Mansion; $50 NL and PL; $13 and $16 SNGs at Stars
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| You have a public and moral obligation to pay your taxes. That really should be all there is to it. |
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Posted: Mon, 01 Jan 2007, 10:13am Post subject: |
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4-of-a-Kind
Joined: 22 Nov 2005
Posts: 3910
WPP: 104
Location: ISHPERMING MISHIGEN
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| just claim what you cash out of your bankroll |
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Posted: Tue, 02 Jan 2007, 1:52am Post subject: |
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Two Pair
Joined: 06 Jul 2006
Posts: 25
WPP: 113
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| Keep in mind - neteller is a numbered account, along the lines of a swiss bank account. The US Govt. really has no clue what is going on until you move funds to a US bank. |
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Posted: Tue, 02 Jan 2007, 2:00am Post subject: |
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4-of-a-Kind
Joined: 14 Oct 2004
Posts: 2312
WPP: 126
Location: Texas
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Posted: Mon, 08 Jan 2007, 7:39am Post subject: |
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Straight
Joined: 16 Mar 2006
Posts: 170
WPP: 84
Location: Sapley, Cambs.
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So don't get subpoenad.
I'm still down on my initial deposit, but as someone that just finished their UK tax return, I'd be tempted to not declare it until I started cashing out and even then not unless it was _major_ money.
But then, I think that they charge me too much tax anyway |
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