supercoolmancool said:
Ok, say I make $5,000 working and $5,000 gambling and I keep absolutely ZERO records just kind of make an edjucated guess. Do you still think I am safe from the IRS? And half that is from online.
I already told you this, but can anyone find anything wrong with my thinking.
You had a part-time job for part of the year and you make 5,000. You had 2,000 in the bank at the start of the year. Now you make 5,000 gambling, but you also have 5,000 dollars in expenses, so your bank account at the end of the year is 7,000.
Now the IRS does a check on you. What can they possibly find that is suspicious? You had 2k in the bank, you made 5k at your part-time job which you record on your tax sheet, and you now have 7k in the bank. Looks legit. They can't know that you made 5k gambling, because you spent it.
Am I missing anything important here?