Reply to thread

Message: [QUOTE="tpb221, post: 1371123, member: 37599"] One-any transaction over $10,000 MUST be reported to the IRS. Two-Your bank keeps records of the checks you cash, even if you don't deposit the funds. Three-breaking up a transaction so it is under the $10,000 rule, say two 5,000 checks still must be report as a 10,000 dollar transaction plus it is also illegal to break up a transaction to get under the $10,000 rule. So not only will you get in trouble for not paying taxes but also go to jail for trying to hide it by breaking it up. Your more likely to go to jail for trying to hide it then not paying the taxes. Fourth-and this is a BIG one-If/when congress passes a internet gambling bill, anyone who gets a license-Stars,FT,etc.- would most likely have to turn over there records of players from previous years and the IRS will have a field day with the people who did not report there winnings. Report your winning or keep looking over your shoulder-that simple. [/QUOTE]