 In Northern Ireland we pay for water in our normal rates but now we are being hit with a separate water tax... |
| Is it legal to be taxed twice for the same thing and why have our politicians done nothing about this!!!???????... |
|
 Anyone had a fraudulent letter from hm revenue and customs? |
| regarding a tax code change even tho its not april yet ? also saying i work for a company called kelly services ! i have never heard of them and have never worked for them.... |
|
| What is the difference between the provident fund account & saving bank account? |
| what is the difference in provident fund account (ppf) as compared to saving bank account? if i invest my money in provident fund account can i withdrawl the money any time i want and would it be ... |
|
 Tax Return money without W2 in Dayton, Ohio? |
| I live in Dayton, OH (obviously). I worked 4 jobs this year. I need to find out where these places are that can get me my tax return check without my W2.... |
|
 If you were a nomad, and travelled around the USA in your car, would you have to pay taxes? |
| of course you'd have to pay sales tax and such, but would the IRS be after you for state and federal taxes?... |
|
 I've been claiming 0 on my W-4. Would it be wise to change to 1 allowance? |
| I've been reading on the internet on this, but just need this answered. I am single, one job, and only make around 17-18K a year. I've always filed 0, but would rather have the money in my ... |
|
 I am working in Bangalore?There is PT deduction from my salary? |
Amount of 200Rs got deducted from my salary every month on the name of PT. I came here from Punjab for job.Will anyone explain me what is this PT. and how to save this deduction.
Thanx in ... |
|
 My mother filed for me on her taxes without my permission? |
I am 25 with a baby and a full-time student. On my FAFSA, I stated that no one can claim me as dependent.
I am also concerned that this will affect my financial aid because my mother is a ... |
|
 Has anyone actually received there stimulas check yet from the goverment? |
| I'm wondering if anyone has received there stimulas check yet from the goverment? I read online that if you had direct deposit they where to start going out on tuesday I think it was. From what ... |
|
 How long is too long for a refund? |
| i have a cellphone that i have had untouched, it has been about 3 weeks is it still possible for me to get a refund?... |
|
 What should I claim for allowances my W4 form? "1" or "0". What's the difference? |
| I was wondering, what's the difference (or what's better)... Claiming "1" or "0" for allowances?... |
|
 What happens if i go exempt for 6 months and the other 6 i go 0 dependents and single? |
| okay here is the problem this 2006 tax year i put in alot of overtime hours and my check is about 2100.00 every 2 weeks but the problem is that they tax me with like about 600 to 700 hundred every ... |
|
|  |
bad_leelee | I have "won" about 15,000.00 dollars in internet poker this year and I usually claim it every year but... ? |
times are tough this year and taxes on that are usually pretty high. The site is based off shore and I never get a 1099 for my winnings so I am just curious if anyone knows first hand about this or of maybe a site where I can read up on this. I really do not want to screw myself with the government, but I so need the money that I am going to have to pay out on it. |
 |
 
Liz in MI
 |
It is income for 2008.Don't wait to report it. |
|
Charles G
 |
So, to rephase your question a bit,
You won approx. $15k in illegal gambling and was wondering what the chances the IRS will catch it if you don't report it as you are required to?
I can only advise you to report it. The rest is your own risk and conscious. |
|
Jss
|
It is income and you must report it.
Read http://taxipay.blogspot.com/2008/04/list-of-articles.html |
|
Dances with Aardvarks
 |
The winnings are fully taxable. But you may never get to enjoy them!
Bear in mind that on-line gambling is ILLEGAL in the US and it's becoming harder and harder to repatriate the funds. US based banks and other financial institutions are barred by law form processing funds to or from known on-line gambling sites.
Most of the on-line gambling sites won't even TRY to transfer the funds to a US financial institution as it exposes the operators of the site to arrest if they attempt to enter the US. This HAS HAPPENED in the past! The operator of a legal British on-line site operating out of the Caribbean was jailed a few years ago when he arrived in the US on a flight en-route to Canada from Europe.
If the Fed catches the transaction they have the authority to seize the funds. However this does not get you off the hook for the taxes on the winnings with the IRS. So you can wind up with $0 in your pocket AND be required to pay the taxes on them at the same time. Finally, since this activity is illegal under US law, you are not allowed to claim any gambling losses against the winnings either. (If you had gambled legally in a casino you would be able to do that but you cannot since your gambling is illegal.) |
|
Bob F
 |
It is income and you owe taxes on it.
The IRS has several ways to know who gets money from things other than 1099s and W2s. You are walking on very thin ice by not reporting it and I don't think what you would save would be worth the risk. |
|
Phuk Ewe
 |
If the IRS finds out about it, you will have to pay the taxes as well as interest and penalties. Whether the IRS finds out about it has to do with at least a few things. If the money is deposited into your saving or checking account, they report large deposits as a way of finding illegal activity or money laundering. This is not much of an issue if it was deposited in several smaller transactions. Otherwise, unless you're audited I wouldn't expect them to find it. |
|
wayfaroutthere
|
I'm not an accountant, but I think you may be able to wait until the year you take it out to pay taxes on it. Since you haven't taken it out of your account yet, you'd pay for it on your 2009 taxes (which you pay in 2010).
The tax form you would need from the poker company is 1099-G. If they don't send you one, the IRS or your tax preparer probably knows how you can claim income on your taxes when you didn't get any kind of tax form from the people giving you the income. |
|
sophist
|
You need to consult a tax specialist. There are several ways to deal with this. You can defer, apportion, invest, etc. A tax specialist can guide you to the best way to deal with it. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
8 | 8 minutes(s) ago
| | | |
8 | 48 minutes(s) ago
| | | |
8 | 3 hour(s) ago
| | | |
8 | 5 hour(s) ago
| | | |
8 | 8 hour(s) ago
| | | |
8 | 1 day(s) ago
| | | |
8 | 4 day(s) ago
| | | |
8 | 6 day(s) ago
| | | |
8 | 2 week(s) ago
| | | |
8 | 2 month(s) ago
| |
|
Homepage 
Financial
Forum 
Taxes 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
