payout question-about withdrawing a large amount

[DarrylParsons]

Lot's of good points raised so far. To sum up...

Bank wire is the way to go.

No need to break into small amounts.

The IRS has bigger fish to fry.

Keep records and receipts/proof of losses just in case. Receiving a large amount does not create a tax liability in itself. Your tax liability is determined by all the info. on your tax return.

 

[BradtheBloke]

well here's another question, does it matter how much the check is for if you intend on declaring it anyways on your taxes? I'm not a huge player but what if someone who was requested a check from a book for something like 15k?

 

[ivyconniver]

Last time i withdrew a few grand i got fedexed a check. It took a few weeks, and it came from some canadian bank with some stupid letter about a corporate rebate.

Bottom line is, even if you get a check payout, its not going to say BOOKMAKER, ATTN: OFFSHORE GAMBLING BIG WINNER on it.

 

[krk1030]

I love getting refunds for items i purchased online.

 

[wiesman02]

used to work at a bank. If u do $9,000 per week, you will be red flagged. Too obvious.

If u are looking to get under the radar, small chunks at a time in more than 1 week intervals.