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#26
07-31-07, 12:50 PM
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You could still withdraw even if you did not agree to the waiver.
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"Animals die, friends die, and I shall die. But the one thing that will never die is the reputation I leave behind." Old Norse adage |
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#27
07-31-07, 10:12 PM
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I have made 15-20K in the last 3 years or so and have not claimed anything on my taxes...oops...must've forgot...
What does this cashout do to people like me? I have about 1K in Netteller that I'm getting out...Am I more likely to be audited now that the gov't has all the names of people cashing out of Netteler and it would be relatively easy to track us down... Does this worry anybody else...maybe I'm just paranoid... burty |
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#28
08-01-07, 02:08 PM
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Getting $1,000 from NETeller will not significantly increase your probability of being audited. Like most govt agencies, the IRS is understaffed and overworked.
The good news on your non-payment is that you haven't made enough money to really piss them off if they catch you. They'll just send you a bill (including interest and penalties) and you can either pay it off immediately, get up to a 180 day extension to pay in full, or set up a payment plan. With a payment plan, you can basically take as long as is comfortable to pay (interest keeps building up of course) but you must agree to pay all future taxes in full when due or risk more stringent action (attachment of pay or bank accounts). Owing what you probably owe, criminal prosecution is rarely even threatened. Thus, you can just start paying taxes on your winnings next year and hope they never catch you, or download the prior years' tax returns and file them now. The real downside of hoping they don't catch you is if they do, the interest can be crushing. Clearly, the legally correct thing to do is to file the back returns now.
__________________
"Animals die, friends die, and I shall die. But the one thing that will never die is the reputation I leave behind." Old Norse adage |
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