Payout question regarding taxes, IRS, etc

[jbango]

I was hoping you all could help me out with a payout question I had...

I'm looking to withdraw several thousand dollars from my book (BoDog) and I wanted to know what the best way to do it would be if I want to remain inconspicuous in regards to the IRS. I read in an earlier thread that as long as you stay under 10,000 you're okay. So does that mean if I made a few withdrawls of $2,000 via checks and cashed them at my bank I should have nothing to worry about. Or perhaps I should cash the checks somewhere other than my bank (as I obviously do not want them reporting anything to the IRS)???

And would WU be a better option...? Is there a certain number that raises a red flag with WU?

Essentially, I'm looking to remain as anonymous as possible during the payout process (as I'm sure we all are)...I've just never been fortunate enough to cash out this much

Thanks to everyone for taking the time to help me out...

[Snowman]

I would go a lot less than $2000. I think my old man told me before that it is anything over $500 and you get audited you are pretty much screwed. My old man owns his own business and gets raped tax time so I'm sure he knows all the ways around the IRS. Don't take this for sure but I am sure it is less than $2000.

[jbango]

Thank you snowman...anyone else with any thoughts?

[ronaldn]

Unless it has changed recently the amount you can deposit without being reported to the IRS is $9999. However, If you are audited for any reason all money moved through your acct will have to be accounted for.

[E_Wrecked]

IT is $9,999. I saw this thing where a guy SIGNED checks in several ways including, but not limited to. Numbers, Heiroglyphics, web dings, russian all kinds of crazy stuff. They never check anything less then $9,999.

Anything over 2grand with WU and you will have to present ID and all kinds of crap. My buddy whenever he goes to the casinos cashes in for $9,900 to avoid the IRS thing.

If you get checks take them to a check cashing joint and pay the 3% or whatever they charge.

OR explain to BoDog the complexities of this and have them send less then $2,000. See if they can send it to different names? Do you have friends or family with ID??? Have BD send $1,800 however many days in a row and alternate who picks up the money AND FROM WHERE.

WU tracks all this crap you dont want YOUR NAME red flagged. Multiple hits to your name might cause a FLAG!!!

Your bank wont say boo, provided the check is not in excess of $9,999.

If it was my online book, I know they are "cool" and will assist you in getting around crap.

I would take $1,800 every other day from WU and split the pickups between me and a friend or 2. It will take you longer to get the money, but I think that is the safest.

OR fly to the country where the money is and be like "gimme some cash bitches" lol

BOL with whatever you do. Checks are to "papery"

[jbango]

E-Wrecked & ronaldn...thank you for the responses. E-Wrecked - very detailed and I greatly appreciate your help.

Yes, I recall reading a thread on here that stated the amount avoid exceeding is $10,000 so as not to raise a red flag.

Even though WU seems to be the quickest way, I certainly do not want to have to present ID, etc when I receive my money. I may just try a small amount (like under 1000) with WU and see how it goes. For the other cash outs I'd like to make, I like the suggestion to have them send me a check and then have it cashed somewhere other than my bank. It seems to me that in this gambling environment, cashing checks at a place other than your bank is the best way to avoid a paper trail....? Is that correct?

Also, I've never done this before so does anyone know of any places off hand that would cash checks of several thousand w/o much of a hassle (other than banks)???

Thanks again for the great responses

[jbango]

After re-reading your reply E-Wrecked...I think I may call BoDog and ask them about your suggestion to send smaller WU payments to several people. Great insight...

[E_Wrecked]

Originally Posted by jbango

After re-reading your reply E-Wrecked...I think I may call BoDog and ask them about your suggestion to send smaller WU payments to several people. Great insight...

If you do WU, avoid chain stores like Wal-Mart Etc. I live near a big mexican portion of the city and I always go to the small mexican owend stores that offer WU. They dont speak english and I speak enough spanish to get through a conversation. Works like a gem

They cant ask me questions because their english is poor and they dont want to because they are getting paid. Ive heard of extensive questioning over WU at bigger stores. Use a bodega if you have one and if you dont know what a bodega is then you are probably far from any city life.

LEt me know how it pans out, thank you

[jbango]

So E-Wrecked, I'm curious how often you do WU payouts and what amounts you typically use...? I'll be sure to look into the various places available to get a WU payout

[E_Wrecked]

not enough that it would be worth monitoring my daily activities

you got the info bro, run with it

nice winnings

[jbango]

Thanks E-Wrecked...I really appreciate the advice

Thanks to everyone else who took the time to read...

Good luck...