JohnCrover
Banned
Just wondering.
What happens if you write down incorrect information on a casino CTR?
- Thread starter JohnCrover
- Start date
KewlJ
Well-Known Member
YOU don't fill it out. There are no doubt frequent mistakes on CTR's. And in the case of related SAR, you usually don't even get to know that a report has been filed.
KewlJ
Well-Known Member
Oh you mean like give the wrong SS#?
Do that more than once and it is pretty hard to claim it was a mistake. And why would you even want to? CTR's aren't the end of the world for a legitimate player. As a matter of fact if you are audited, a couple CTR's is supporting evidence on your side.
The down side is wasted time and casino having your personal info. BUT they probably do anyway, no matter what we think. If you are worried about this just play short sessions. That takes care of almost all problems.
Do that more than once and it is pretty hard to claim it was a mistake. And why would you even want to? CTR's aren't the end of the world for a legitimate player. As a matter of fact if you are audited, a couple CTR's is supporting evidence on your side.
The down side is wasted time and casino having your personal info. BUT they probably do anyway, no matter what we think. If you are worried about this just play short sessions. That takes care of almost all problems.
JohnCrover
Banned
Yeah, I just got angle shot by this casino. Should have known better.
Nightshifter
Well-Known Member
That depends on if your tribal or non-tribal!
Wait you in Vegas... you mean as in circumventing CTR reporting?Just structure your transactions... maybe agenting as well. For example, conducting three transactions of $4,000 is more than $10,000, which is the threshold of reporting a CTR. If the casino you're at did not track multiple transactions, you might be able to circumvent the reporting of their transactions. However, because most casinos track transactions of $4,000 (and lower), structuring this $12,000 transaction into three, smaller transactions would not prevent a CTR from being filed. And, while it may be possible to break up $12,000 into 20 individual transactions of $600 each, casino personnel also maintains awareness of this tactic and would likely detect the numerous trips to the cage to perform similar transactions... LOL! Just a note, I don't condone this type of behavior and it's only for the sake of argument.
beating vegas
Well-Known Member
He’s correct.
There is this law that the IRS enforces called Structuring. If you try to avoid 10 large and higher to avoid CTRS to avoid taxes and they can prove it.
Then you have a serious problem. The IRS has the power of immediate seizer.
They would have to see a pattern. Take a wild fucken guess who would alert them ?
That would be the casino. So if your avoiding trails be smart about it.
I myself pay the taxes.
I’m sure the spelling and grammar may be wrong.
“Make Black Jack Great again”
There is this law that the IRS enforces called Structuring. If you try to avoid 10 large and higher to avoid CTRS to avoid taxes and they can prove it.
Then you have a serious problem. The IRS has the power of immediate seizer.
They would have to see a pattern. Take a wild fucken guess who would alert them ?
That would be the casino. So if your avoiding trails be smart about it.
I myself pay the taxes.
I’m sure the spelling and grammar may be wrong.
“Make Black Jack Great again”
Last edited:
JamesonDetroit
Member
Yeah, that's the smart way to go. Just because we don't render unto Caesars Entertainment doesn't mean we don't need to render unto Uncle Sam.
beating vegas
Well-Known Member
There are also losses reported. Depending on how you claim you also have write offs.
I recommend having an accountant handle your taxes.
Nightshifter
Well-Known Member
gambling industry (drugs, trafficking... whatever) and government are but two sides of the same coin