Anyone here ever gotten audited by the IRS?

[Dante]

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by scpnc:
aa, if you are sweating juice from casino atms then you definitley don't have to worry about the irs, don't even think about the irs unless you are winning $50,000 plus a year.<HR></BLOCKQUOTE>


Spnc...This is what I have always thought also. It is almost like they would waste more money trying to get all the small timers to pay if under the amount you state..It is amazing the scare it puts into people though at all levels

 

[Muddy]

what if the amount you have won is less than the amount of your losses so basically you have no income. Do you still have to file a tax return?

 

[bigbet1234]

i have heard there a many states you have to pay on the winnings even if you losses offset. just state tax though.<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by oldmantime:
bigbet 1234,

What state or states do you pay taxes if there is a net loss?<HR></BLOCKQUOTE>

 

[oldmantime]

scpnc,

I see what you are saying about when very small amounts are involved--being maybe a waste of time. But what about if they charge "conspiracy"? Does anyone know about this.
When I hear that somebody has been charged with a serious crime, such as ---- and then they say "conspiracy" it makes my blood run cold.

 

[aawied]

scpnc I did not say I was sweating it if I only win 50000 I might have to get a job

 

[TheGeneral+]

Another very informative thread gang. Thanks.

 

[scpnc]

scorpion, legally speaking you have to keep track of all your gambling losses and wins even if you lose more than you win you are supposed to file the wins and deduct the losses, that being said nobody i have ever known does that which is also the reason you just don't see the irs trying to crack down on gambling wins and losses, it is just way too much work and hassle for them, and like I said at the end it just won't hold up in court, just be smart about it and have a good time betting it up

 

[aawied]

I was audited many years ago when they would spend 5000 to collect 100 what they are saying it has changed I am not so sure if they will come after you atm casino withdrawl wont work Theywant every documented if they are really after you the audit might be a catch all from other things