Archive for the ‘United States’ Category

How do taxes work for winnings from online poker/gambling sites based outside the US?

Monday, July 13th, 2009
beatzscientifik asked:


If you win $50,000+ from an online poker/gambling site based outside the US, is there any way to cash out the money without having to pay taxes? If not, can someone explain how taxes would work?

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Posted in United States | 5 Comments »

What are the tax implications of winning online poker?

Monday, June 8th, 2009
DBADiver asked:


If I were to win say, $100,000 playing online poker, I know the government wants to tax me on that. What happens if I don’t withdraw the money from my account? Do I pay taxes on it? What if I withraw just a little bit at a time over several years, do I have to report it?
I am in the U.S (Virginia), by the way.

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Posted in United States | 3 Comments »