My question is how do you claim your gambling winnings if you made a good amount from an illegal bookie/bookies? I mean poker money you can sort of cover since casinos don't have you fill out paper work if you win a bunch in a cash game (tourneys are different I believe). I would like to hear from some people that have made some money from the local this past year.
thanks
thanks
You are required to claim all income, even $$ obtained illegally. For example, say you embezzled $300,000 this year -- you are required to claim it as income.
Under no circumstances is the IRS allowed to report this information to the DoJ, or whomever investigates federal crimes. Believe me -- anything you report to the IRS will go no further... The policy stance taken on this is very strong and strictly adhered to.
I have had a solid year betting and WILL claim after the year but wondering with the way the U.S. has taken a stance on gambling offshore in the past year if this would have any effect. I did not about the DofJ not being able to use IRS claims.
Just alot of stuff going on right now. Almost feel like I am doing something wrong between all the money being moved around at MoneyGram, Western Union and recieveing checks from foreign countires, when I am 99% I am not doing anything wrong. Maybe I am being parnoid but I figure it is better to be safe than sorry. I guess this is becoming a nice problem (don't like that word) to have.
I honestly want to do the right thing here and don't mind filing at all but don't want to raise any red flags. May contact a lawyer on this. Wondering how others are handling this NOWADAYS as compared to the years past.
Just alot of stuff going on right now. Almost feel like I am doing something wrong between all the money being moved around at MoneyGram, Western Union and recieveing checks from foreign countires, when I am 99% I am not doing anything wrong. Maybe I am being parnoid but I figure it is better to be safe than sorry. I guess this is becoming a nice problem (don't like that word) to have.
I honestly want to do the right thing here and don't mind filing at all but don't want to raise any red flags. May contact a lawyer on this. Wondering how others are handling this NOWADAYS as compared to the years past.
offshore betting i don't know about.... but in las vegas if ya win at a slot machine anything over 1199.00 they take your s/s # and drivers # and make you sign a fourm, a few years back i hit a few jackpots and tried to be slick and did not turn one of the fourms in..... and i was cought 2 years later.... and had to pay a 87.00 fee !! and what i owed them. it's best to be safe and just pay up !!! :thumbsup:
