well i was thinking about it and how will they know that i am cashing checks.. im not doing it at the bank its at the liquor store or any other store that cashes checks.
and im trying to keep it under the radar from the IRS.
if i have the casino send my money to pay pal which they can and then buy online merchandise with it or even purchase a visa gift card of the amount of my winnings which can be done.
will they know about it and is this a good cover?
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Tags: Bank, Cash, Casino, Checks, Liquor, Online, Store, Will, Winnings
2 Responses to “If I Cash My Online Casino Winnings Checks At A Store Or Liquor Store And Not The Bank Will The Irs Know?”
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Filled Under: Casinos Online
September 28th, 2009 at 1:12 pm
A check is a check – the only restriction in the US is on electronic money transfers from financial institutions. As for IRS flags, I believe any financial transaction 10K or above gets tracked – a series of them would certainly garner a look from someone. If you can keep your winnings with the online casino and draw it out in a series of smaller payouts, that might (emphasis might) let you fly under the radar. Of course, your money wouldn’t be earning anything while it sits there…
September 28th, 2009 at 1:12 pm
I’m not aware of any casinos that use pay pal.
Plus, if the check isn’t above 10K, no one is going to know. The checks don’t say “POKER WINNINGS” on it.