- Gambling income is taxable in the US
- Lots of people aren’t declaring poker income on their returns
- The transactions are all logged, so there’s no plausible deniability if they look into your stuff
- They will start looking into online gambling transactions, since the IRS knows there’s money to be made
So I’m not going to beat any more dead horses for the moment. Instead, I’ll link to two people who will help beat them for me:
I recommend reading Matt Maroon’s post The Taxman Cometh and Russ Fox’s post Neteller, the DOJ, and the IRS. Russ, don’t even try to come after me for cribbing your post title. I added you. That’s fair use.
Both of these blogs are on my list of recommend blogs. Check them out.
Tags: irs, neteller, online-poker, taxes, uigea