For those US customers (still) waiting to withdraw their money from Neteller, the company claims they are coming up with a deal to release the funds. [Emphasis added.] NETELLER is continuing to cooperate with the investigation being conducted by the United States Attorney’s Office for the Southern District of New York (“USAO”), under the advice [...]

I’ve been something of a broken record in the past about the fact(s) that: 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, [...]

I can’t say I’m very surprised to hear it, but today it became official. Neteller is rolling over to save itself from the headache and expense of a fight with the DOJ. Neteller issued a press release today. The lowlights are the following: The discussions between [Neteller's] legal advisers and the USAO are ongoing. [Neteller] [...]

At the risk of beating a dead horse, I just wanted to share a little of my morning paranoia. So I know that despite my protestations, a number of online poker players still don’t plan to report their play on their taxes. I frankly think that it’s an enormous risk to take, and I fully [...]

This morning I saw a post on pocketfives where someone claims they just received an audit notice from the IRS. They say they did everything they were supposed to do (filed quarterly estimates and reported the income) and they still got an audit notice from the IRS. A year ago I realized that a major [...]