and won a few hundred dollars. I am assuming if I receive my payout via cashier's check and cash it at any check cashing place rather than my checking account, there is no way the IRS will know. Am I correct on this.
2007-03-02 09:36:01 · 3 answers · asked by LIVE4Kids 2 in Games & Recreation ➔ Gambling
Cashing it at a check cashing place instead of depositing in my checking account.
2007-03-02 09:38:23 · update #1
Online gambling company is overseas.
2007-03-02 09:40:23 · update #2
Another alternative is to use epassporte.com and simply use the Visa card they give you at an ATM. There is a small fee but you can take your cash out any time and the IRS will never know because it is a non-American Visa card.
2007-03-02 13:52:01 · answer #1 · answered by ZCT 7 · 0⤊ 0⤋
For the most part, you are correct. I have played fairly significantly online, and its not as though the online site has filed a form with the IRS. If the amount is small, you'll be under the radar and have nothing, realistically to worry about. If you every game lives, try to keep records of your losses, in the VERY unlikely event of an audit. Your gambling losses can offset the winnings.
2007-03-02 09:39:41 · answer #2 · answered by Jordan X 2 · 0⤊ 0⤋
Depends on state or federal law on gambling. Our website will tell you more: http://www.recovergamblinglosses.com
2007-03-03 20:26:57 · answer #3 · answered by keith nelson 1 · 0⤊ 0⤋