by BigPhish » Fri Jul 15, 2005 11:56 am
Almost every time money flows into your hands (in the U.S.), it's taxable as income. I can't see why deposit bonuses would be any different.
Online poker is not yet "legal" in the good ol' U.S. of A. Let's compare that to how the government chases after something else that's not legal - dealing drugs. They hit drug dealers on their felonies, sure. Then they turn them over to the IRS for additional spankings. And if they can't get 'em on the drug charges, they have a lot easier time getting them on tax evasion.
If the government wants to start chasing after online poker players, why would anyone think they won't go after them for tax evasion just as heavily as they go after drug dealers for tax evasion? Just because you make the money illegally doesn't mean you're exempt from paying taxes on it.
If your tax bill would have been large enough, it's not just financial any more; it's jail time.
If this "holier than thou" government we seem to have today keeps gaining strength, making any money at online poker is going to start making me nervous...
-BigPhish
From my bankroll to yours, all across the Internet.