Advice Needed on Withdrawls

[Tigger]

And The Award Goes To..........

Spearit for coming back with the most helpful, detail information of the night on withdrawing, LOL. I knew I should of named this thread "Big Tits" or something of that sort, so I'd get more hits on it, thus more information, LMAO. Oh well, next time. Thanks again guys, and if anyone else has more information or better info. feel free to post it here for me, thanks again.

~~~ Tigger

[Spearit]

Thanks Tigger And You To Gary Lehr For The Info As Well.

[Tigger]

Bump

Up Up Up

[Ripple]

i do western union alot,,i do 2800 at a time ,,from 3000 on u have to sign papers and show a few id.s sometimes i do it 3 times a week ..over 3000 isnt a problem either but i hate signing those papers..been betting offshore for years since they opened and never was ran into a problem with the irs or anything...if your making huge withdrawals and can wait a day or 2 ,,do a few checks at once if i wanted to do checks instead of western union..ill do a few checks for 4500.00 each..i rather cash small checks like 4500 than bring a big chech for 10k to 15k to the bank,, i made 2 withdrawals last week thurs & fri for 2800 each day and the sports book didnt blink an eyes and i had my cash by 4pm the same day.theres a few different ways but i wouldnt worry about a thing its all safe...and about the 1900 someone statedthats totally incorrect,,thanks,, hope this helps alittle,,

[Ripple]

also it doesnt matter how you deposit ,that only matters if you deposit via credit card,,if u make a 3000 deposit via credit card and if u want to make a withdrawal the first 3000 has to go back on the card than the rest comes anyway u like no matter of the deposit,,its all safe and ur ok ,,keep getting a few checks like someone said keep every check under 10k thats why i do get a few checks at once,,but my first choice is western union ..where i live there on every corner and theres one that open 24 hrs a da,, i go to that one,,when i go to my grocery store to get my money they give me all 20;s western union gives all hundreds or even a money order if you want ,,ita all good & safe,,congrats any help ask and ill try my best

[Tigger]

Thanks Rip

Good stuff man. I usually do Western Union or EFT, seeing as I can wait a day or two for it, I know it's cheaper that way. Thanks again and keep those fades coming, you're sitting on a goldmine!

~~~ Tigger

[Spearit]

Good Stuff Rip Now I Am Informed As Well. Once Again You Show The Class You Are Made Of By Responding. I Was Only Stating An Opinion And So Noted It. Played The Under For Caution. Please Give My Award To Rip

[Tigger]

LOL, it's in the mail

Please Give My Award To Rip

~~~ Tigger

[BackDoorCvr]

I'm not sure if this is in the right forum or not, if not then please move it.

For those that are willing to give advice on such a subject your input is appreciated. I am looking to withdraw a good bit of money (thousands), but don't know the legal background of such. How much can you withdraw at a time without having to claim taxes on it? How much per year without claiming taxes? What methods do you prefer to withdraw EFT? Western Union? Check? Is one method better than another method? Are some methods trackable and therefore MUST be claimed on taxes? Any information is helpful, and thank you in advance.

~~~ Tigger

Tigger,

You are required by law to pay taxes on all of your gambling winnings. Obviously you will not receive a 1099 from one of your offshore books so the IRS puts you on the honor system. But really, I'm not sure who on this site actually claims these winnings on their returns. You can offset your tax laibility on your winnings by claiming losses as well to net everything out to zero but you can't claim a net gambling loss on your 1040. You have to be very unlucky to be harassed by the Feds over this....although there are much tougher anti-money laundering laws in place now since 9/11. Constant EFTs for significant dollar amounts originating from foreign banks may catch the eye of a local branch manager who may bring it up to their superior and so on up the ladder. This is how one is apt to get investigated. But like I said, you have to be extremely unlucky to have the Feds at your door for pulling out some of your gambling winnings.

[Ripple]

tigger ur ok ,,diregard the above post ,,,but as i said there western union and when i make a withdrawal its because i won not because i need the money so 130 for the western union is very little and who cares about the fee ,,i paid it twice last week ...hes scaring you and ur a bigger man to let this poster scare you..good luck and keep the faith and have no worries western unioni is around the corner...out of all he said i wouldnt keep getting eft's in my account get a check and even take it to a check cashing place and pay the 2% whats 60.00 for every 3k ,,keep the good workup ,,,and if making a withdrawal is ur only problem god bless you my friend

[BackDoorCvr]

tigger ur ok ,,diregard the above post ,,,but as i said there western union and when i make a withdrawal its because i won not because i need the money so 130 for the western union is very little and who cares about the fee ,,i paid it twice last week ...hes scaring you and ur a bigger man to let this poster scare you..good luck and keep the faith and have no worries western unioni is around the corner...out of all he said i wouldnt keep getting eft's in my account get a check and even take it to a check cashing place and pay the 2% whats 60.00 for every 3k ,,keep the good workup ,,,and if making a withdrawal is ur only problem god bless you my friend

Rip-

Not trying to scare anyone so there is no reason to disregard my post. Tigger was asking what he is legally required to do and I simply answered him....nothing scary about that. As I said, it is extremely rare and you have to be very unlucky to be audited by the IRS. I'm sure no one here claims any gambling related income on their taxes so we are all in the same boat.

[griswold]

No one pays taxes on offshore gambling winnings, unless they're idiots. Federal law requires banks to disclose all transactions of $10,000 or more. Do NOT deposit more than $9999 with your bank or credit card.
You should request that your book send you a cashier's check (all the good ones do this) for less than $10,000. If you've been a regular bettor, they'll even pick up your fees. If you're taking out more than $10,000 I'd do it in two increments at least a week apart. Your local bank isn't out to screw you and they see big deposits all the time (small business clients, etc.). I've never had a problem doing it this way and have never had the IRS contact me.

[Tigger]

Thank you gentlemen for all the information

Claiming the winning on taxes wasn't the problem I wasn't going to do it anyway Thanks for all the information.

~~~ Tigger

Griswold very good points on the X < 10,000.
Rip = Class Act, top knotch

[Hoosier Daddy]

Tigger -
From having worked in a bank, you have to fill out a federal form if you either deposit or withdraw cash over $10K. Some banks (like the one where I worked) had you fill out a form for any transactions over $4000 cash. But that was NOT a federal form or turned into the government, but rather kept at the bank in case there were other laundering issues that came up later. Unfortunately my buddy and I had to withdraw several thousand to pay the man during football season this past year, and no paperwork was ever filed, even for withdrawals of $9K. Hope this helps.

[one of the boys]

Griswold very good points on the X < 10,000.

I told you that last night (see above).