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V_RocKs · 05-01-2008, 06:19 PM

Lets look at this objectively.

1) Epassporte stops processing all payments for gambling sites.
2) Epassporte asks all members to prove to Epassporte who they are.
3) Epassporte is especially concerned with where you live when asking for the documents.

Now lets look at Neteller.

They did something similar and the IRS went through their documents looking for card holders that had account balances of $10,000 or more and did not acknowledge this fact on their tax returns. Moving money of $10K or more into or outside the US must be declared. Your tax form has a check box to do so. Says something like, In 2007 did you have $10,000 or more in a foreign bank account. Which Epassporte is.

Next they went after the larger gambling winners. So anyone with $100K or more in winnings received an IRS notice informing them that they needed to prove they lost an amount equal to or over the amount they won. If they could not do so, they would have to pay taxes and penalties on the winnings.

Rumors have spread that the number came down to as low as $30,000 over the last two years as the IRS is working to collect all of the money US tax payers kept.

So if you didn't gamble or didn't remove large amounts of cash you might not have a problem. If you did have $10K in the account and failed to report it, you can expect an audit. If you won large amounts, expect a bill.

05-01-2008, 06:19 PM
V_RocKs Damn Right I Kiss Ass! Industry Role: Join Date: Dec 2003 Location: Cowtown, USA Posts: 32,422	Lets look at this objectively. 1) Epassporte stops processing all payments for gambling sites. 2) Epassporte asks all members to prove to Epassporte who they are. 3) Epassporte is especially concerned with where you live when asking for the documents. Now lets look at Neteller. They did something similar and the IRS went through their documents looking for card holders that had account balances of $10,000 or more and did not acknowledge this fact on their tax returns. Moving money of $10K or more into or outside the US must be declared. Your tax form has a check box to do so. Says something like, In 2007 did you have $10,000 or more in a foreign bank account. Which Epassporte is. Next they went after the larger gambling winners. So anyone with $100K or more in winnings received an IRS notice informing them that they needed to prove they lost an amount equal to or over the amount they won. If they could not do so, they would have to pay taxes and penalties on the winnings. Rumors have spread that the number came down to as low as $30,000 over the last two years as the IRS is working to collect all of the money US tax payers kept. So if you didn't gamble or didn't remove large amounts of cash you might not have a problem. If you did have $10K in the account and failed to report it, you can expect an audit. If you won large amounts, expect a bill.