Comments on: Even Farkers Think Banning Online Gambling is teh Stoopid http://www.billrini.com/2006/05/26/even-farkers-think-banning-online-gambling-is-teh-stoopid/ Blogging About Poker Since 2546 Thu, 09 Feb 2012 10:31:43 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Russ http://www.billrini.com/2006/05/26/even-farkers-think-banning-online-gambling-is-teh-stoopid/#comment-2158 Russ Sat, 27 May 2006 00:53:11 +0000 http://www.billrini.com/2006/05/26/even-farkers-think-banning-online-gambling-is-teh-stoopid/#comment-2158 Unfortunately, whether or not online poker is made illegal, the income you make from it *must* be declared. The US Tax Code is quite clear on the subject: all income, from whatever source, legal or illegal, earned in the US or abroad, is taxable (unless specfically exempted from taxation). While I hope that the US doesn't bring about a second prohibition, I'm not optimistic. Russ Unfortunately, whether or not online poker is made illegal, the income you make from it *must* be declared. The US Tax Code is quite clear on the subject: all income, from whatever source, legal or illegal, earned in the US or abroad, is taxable (unless specfically exempted from taxation). While I hope that the US doesn’t bring about a second prohibition, I’m not optimistic.

Russ

]]> By: Peter http://www.billrini.com/2006/05/26/even-farkers-think-banning-online-gambling-is-teh-stoopid/#comment-2157 Peter Fri, 26 May 2006 22:04:27 +0000 http://www.billrini.com/2006/05/26/even-farkers-think-banning-online-gambling-is-teh-stoopid/#comment-2157 Hi Bill - just found your blog and love it. This stuff affects anyone playing poker, working in the industry, and lately there's talk - just talk - about affiliates also getting sucked into this, since they make $ from the poker and casino sites. Hi Bill – just found your blog and love it. This stuff affects anyone playing poker, working in the industry, and lately there’s talk – just talk – about affiliates also getting sucked into this, since they make $ from the poker and casino sites.

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