US gaming probe rocks top banks

[Kurn]

Unless you live in Washington State, it is not illegal to gamble online in the US. It is however, illegal to gamble online and not pay taxes. The only thing about this whole mess that concerns players is that it has become very difficult to deposit money in an online site. It is still relatively simple to withdraw money.

The UIGEA does not make it illegal for Americans to gamble online. It restricts financial institutions from transferring money to the site.

With respect to reporting income for tax purposes. No law change regarding the legality of playing alters the fact that your income is taxable. Income from illegal activity is still taxable in the US.

[melioris]

from some staffer of Herb-

Thank you for taking the time to contact me. I apologize
for the delay in my response. I value the correspondence I get
from people back home in Wisconsin, and I would like to take this
opportunity to address your concerns.

I appreciate hearing your thoughts on the prohibition of
Internet gambling. Each year Americans wager nearly six billion
dollars on bets and other gambling transactions conducted over the
Internet. Opponents of Internet gambling have raised concerns that
it is largely unregulated, fails to block access by children, and
provides outlets for organized crime and money laundering. On
the other hand, many people believe that Internet gambling is an
easily accessible and harmless form of entertainment.

On September 30, 2006, Congress passed H.R. 4954, the
"SAFE Port Act," which included a version of the "Internet
Gambling Prohibition and Enforcement Act" that was added
during conference committee consideration. As you may know,
this bill prohibits gambling businesses from accepting checks,
credit cards, electronic transfers and other forms of payments for
illegal Internet gambling transactions. Intrastate gambling and
intratribal Internet gambling operations that feature age and
location verification requirements in accordance with federal laws
are exempt from the Internet gambling ban.

I understand and appreciate your concerns with the manner
in which Internet gambling was addressed in the "SAFE Port Act."
The "SAFE Port Act" was signed into law by the President on
October 13, 2006. Should Congress revisit issues related to
Internet gambling, you can be assured I will keep your views in
mind.

Again, thank you for contacting me. I appreciate having
the benefit of your views.





Sincerely,


Herb Kohl
U.S. Senator

[lightfungus]

Thanks, pal. I guess.

[Dodoubled]

That letter looked like a Wikipedia article with an electronic signature.

Bah.