online gambling irs

By admin 　

Should I report my online winnings to the IRS?

Do professional online gambler report their winnings to the IRS?.I
just hope if they found out how much money I’ve won online they don’t charge me with tax evasion.Online gambling is illegal so you’re not suppose to report your winnings,right?

Wrong. You are required to report it. Income being illegal doesn’t relieve you of the obligation of paying tax on it. And yes, you can be charged with tax evasion if you fail to report significant amouts of income – read up on a guy named Al Capone.

Walk For Liberty Day 194 – The Free Market Always Finds Ways To Work Around The Government




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This entry was written by admin, posted on February 9, 2010 at 7:10 am, filed under Games and tagged , , . Bookmark the permalink. Follow any comments here with the RSS feed for this post. Post a comment or leave a trackback: Trackback URL.

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