Do I have to pay taxes for my winnings

[wonnoting]

I wanted to know if I going to have to pay taxes for my winnings. If so is there a way for them not to know about my winnings. I hate to be paying taxes. I have a payspark account and wanted to know if they show up as I have been paid a good amount to pay for taxes. If you know aby infomation about payspark or any other way to not pay taxes for my winnings by a proccesor then please do so.

Sorry if I posted this on the wrong forum if I did please redirect it to the correct forum.

[buck]

Yes, you need to pay taxes on gambling winnings in the USA. If not it would be tax evasion, and you will go prison without any internet access.

The IRS is known to monitor these boards for such activity.

You may offset your winnings with any losses, so go drop your winnings and you will be able to sleep at night.


Buck

[slotchik]

How can this be true???

THE irs has no control over offshore winnings.
There is no tax form filed.
Hence if I win in Canada, I dont pay taxes. HOw can the US tax money that isn't originated in the US? I know I file when I win in a land based but what do you file with the IRS for online gaming? Do they want a copy of the neteller info?

[slotchik]

I found this online too~but I always lose more then I win ( I have the proof )

The legalization of Internet gambling may cause states to lose some revenue generated from legalized gambling operations because many gamblers would spend their money online.(15) Moreover, states lose revenue by not being able to tax gamblers who win over the Internet; gamblers who win over the Internet have an incentive not to pay taxes on their winnings because the Internal Revenue Service ("IRS") lacks the resources to track online gamblers.(16)

[Bruce Hamilton]

Originally Posted by slotchik

...gamblers who win over the Internet have an incentive not to pay taxes on their winnings because the Internal Revenue Service ("IRS") lacks the resources to track online gamblers.

And even if they could, what determines your winnings? If you win $1000 and cash $500, then wage and lose the other $500, would that lost $500 count as a win, or a loss?

[slotchik]

its such a gray area. Thank God, I dont play too much online anymore and my slot card in the land based keeps track of my losings ....
but how does the IRS know how much your winning if you DO online???
With Neteller, you can just withdraw with your ATM card and it's all online....

The thing is ..Neteller has your social security so do they report anything?

Anyone know about this?
I report my winnings from land based and online but like I said, I always lose equal to or more of that...so it's irrelevant. What about those who win a lot???

[buck]

duplicate??

[slotchik]

but Buck, how can the IRS audit you???
If you go and withdrawel the money from Neteller with a debit card???

[buck]

Originally Posted by slotchik

I found this online too~but I always lose more then I win ( I have the proof )

The legalization of Internet gambling may cause states to lose some revenue generated from legalized gambling operations because many gamblers would spend their money online.(15) Moreover, states lose revenue by not being able to tax gamblers who win over the Internet; gamblers who win over the Internet have an incentive not to pay taxes on their winnings because the Internal Revenue Service ("IRS") lacks the resources to track online gamblers.(16)

Good info, the problem is; that this is up to the individual to report. Unreported income is tax evasion and probably the biggest chance of discovery is an audit. If they discover such in an audit they will not deal lightly with the taxpayer.

Hey it is gambling so take a chance and see if you can end up with a roomate/boyfriend named Bubba.

Buck

[slotchik]

why is your post there twice?