Been Audited by the IRS? Paypal or EPASS get in the mix? - GoFuckYourself.com - Adult Webmaster Forum

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gleem

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#1

Been Audited by the IRS? Paypal or EPASS get in the mix?

03-11-2010, 11:30 AM

As I am running out to a meeting with my accountant, I wondered if anyone here has been audited and if so did EPASS get pulled into the mix by the IRS? What about paypal?

I claim everything that goes in and comes out of my epass BIZ account for the record

Is epass a relatively safe haven?

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st0ned

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#2

03-11-2010, 11:32 AM

Bump for answers, I have always wondered this as well.

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MaDalton

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#3

03-11-2010, 11:37 AM

every transaction i do via paypal i put officially in the books - their payment fees are tax deductible.

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#4

03-11-2010, 11:38 AM

If they find it, they will check it.

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#5

03-11-2010, 11:38 AM

After 9/11 and the Patriot Act nothing is safe to purposely omit, tread at your own risk...
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Jarmusch

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#6

03-11-2010, 11:43 AM

It's the sort of thing you shouldn't be asking on a public board.
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BluMedia

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#7

03-11-2010, 02:14 PM

They will look at EVERY single transaction. It doesn't matter if it is Paypal, Epass etc. I think they pay even more attention to 3rd parties like Paypal, Epass more than normal ones.

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#8

03-11-2010, 02:17 PM

Don't fuck around,or you'll be squeeling like a piglet for Bubba

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#9

03-11-2010, 02:26 PM

they can get paypal pretty easy. not sure about epass but i wouldn't fuck around if the epass was in your actual name and home/business address.

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Trend

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#10

03-11-2010, 02:29 PM

Originally posted by SAC

After 9/11 and the Patriot Act nothing is safe to purposely omit, tread at your own risk...

Excellent Advice

a. From US based accounting firm:

I?ve been asked by some of my gambling clients about ePassporte, an e-wallet that?s now in widespread use. The question that has arisen is whether ePassporte is a foreign bank account like Neteller was.

So where is ePassporte headquarted? They?re headquartered in St. Kitts, part of the Federation of Saint Kitts and Nevis, the smallest independent nation in the Caribbean. So if you have an account at ePassporte it is a foreign bank account. If you?re a US citizen and your high balances in any foreign bank accounts when added together add up to $10,000 or more, you must file Form TD F 90-22.1 and check the box on Schedule B. If you willfully don?t file Form TD F 90-22.1 the minimum fine is $100,000.

So if you have foreign bank accounts and meet the threshold of reporting make sure you comply.

b. Money Laundering: Life After
the Patriot Act ( SEC Report )

c. Our banking institutions explained that they must file a SAR's report every time we send money via bank wire, epass, paypal etc to or through a foreign country. Frequency raises red flags.
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gleem

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#11

03-11-2010, 04:08 PM

yes, that is all good and fine, but how would they know to look there unless you say something.

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Klen

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#12

03-11-2010, 04:10 PM

Originally posted by Trend

Excellent Advice

a. From US based accounting firm:

I?ve been asked by some of my gambling clients about ePassporte, an e-wallet that?s now in widespread use. The question that has arisen is whether ePassporte is a foreign bank account like Neteller was.

So where is ePassporte headquarted? They?re headquartered in St. Kitts, part of the Federation of Saint Kitts and Nevis, the smallest independent nation in the Caribbean. So if you have an account at ePassporte it is a foreign bank account. If you?re a US citizen and your high balances in any foreign bank accounts when added together add up to $10,000 or more, you must file Form TD F 90-22.1 and check the box on Schedule B. If you willfully don?t file Form TD F 90-22.1 the minimum fine is $100,000.

So if you have foreign bank accounts and meet the threshold of reporting make sure you comply.

b. Money Laundering: Life After
the Patriot Act ( SEC Report )

c. Our banking institutions explained that they must file a SAR's report every time we send money via bank wire, epass, paypal etc to or through a foreign country. Frequency raises red flags.

Correction,they are registered in curracao,while only bank account is in st.nevis.Take a look at your visa electron of epassporte if you don't believe me.
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Klen

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#13

03-11-2010, 04:12 PM

Originally posted by gleem

yes, that is all good and fine, but how would they know to look there unless you say something.

I don't think they can look under someone account since epassporte is offshore company.
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Barefootsies

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#14

03-11-2010, 04:14 PM

Originally posted by Trend

Excellent Advice

a. From US based accounting firm:

I?ve been asked by some of my gambling clients about ePassporte, an e-wallet that?s now in widespread use. The question that has arisen is whether ePassporte is a foreign bank account like Neteller was.

So where is ePassporte headquarted? They?re headquartered in St. Kitts, part of the Federation of Saint Kitts and Nevis, the smallest independent nation in the Caribbean. So if you have an account at ePassporte it is a foreign bank account. If you?re a US citizen and your high balances in any foreign bank accounts when added together add up to $10,000 or more, you must file Form TD F 90-22.1 and check the box on Schedule B. If you willfully don?t file Form TD F 90-22.1 the minimum fine is $100,000.

So if you have foreign bank accounts and meet the threshold of reporting make sure you comply.

b. Money Laundering: Life After
the Patriot Act ( SEC Report )

c. Our banking institutions explained that they must file a SAR's report every time we send money via bank wire, epass, paypal etc to or through a foreign country. Frequency raises red flags.

This is correct.

Everything that leaves an electronic trail, the government can get. This is straight from my buddy at homeland security. He said that a lot of times people can get away with it for a 'time' with IRS because they are understaffed. But if they start pulling your records, they will find it.

One way, or another.

I claim all of that shit where it shows up or not. I have more than enough write offs a year that I do not need to concern myself with lying on the taxes. I put down every little thing. Both for income revenue AND for write offs.

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gleem

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#15

03-11-2010, 04:14 PM

Originally posted by KlenTelaris

I don't think they can look under someone account since epassporte is offshore company.

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#16

03-11-2010, 04:15 PM

Originally posted by SAC

After 9/11 and the Patriot Act nothing is safe to purposely omit, tread at your own risk...

Right on the money?

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NoWhErE

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#17

03-11-2010, 04:21 PM

If you're not depositing any of the epass money into your own personnal bank account and simply use the card to withdraw from the ATM (and spend the cash), I wouldn't worry too much about them finding out.

Its when you have cash deposits in your account that you don't claim or can't justify that they start snooping around and THAT will lead to your epass account

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#18

03-11-2010, 08:48 PM

Originally posted by gleem

yes, that is all good and fine, but how would they know to look there unless you say something.

They are not some newbs, you can fool your accountant, or your banker, but these guys do it for a living, they know all the tricks in the book... I'm sure 100s of adult webmasters were audited by now, so IRS knows damn well that many adult webmasters have paypal + epass accounts...

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#19

03-11-2010, 08:54 PM

I always wonder how ccbill sends out all these Bof A checks that can be cashed easily with no w2 . Google is seriously anal about it.

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BJ

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#20

03-11-2010, 08:59 PM

It is very simple, if you get paid offshore, and the money stays there, you are ok. As soon as the money enters the USA you should pay tax.
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heymatty

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#21

03-11-2010, 09:15 PM

Originally posted by BJ

It is very simple, if you get paid offshore, and the money stays there, you are ok. As soon as the money enters the USA you should pay tax.

US citizens are taxable on worldwide income. As far as I know.

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#22

03-11-2010, 10:07 PM

knowingly omitting anything from a tax return (US citizen) is tax evasion...

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#23

03-11-2010, 10:56 PM

Originally posted by gleem

As I am running out to a meeting with my accountant, I wondered if anyone here has been audited and if so did EPASS get pulled into the mix by the IRS? What about paypal?

I claim everything that goes in and comes out of my epass BIZ account for the record

Is epass a relatively safe haven?

Of course it will.
You have to claim every cent. There is no such thing as a "safe haven."

Best of luck though.
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BJ

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#24

03-11-2010, 11:21 PM

Originally posted by heymatty

US citizens are taxable on worldwide income. As far as I know.

correct sir

You want the USA passport you are legally obliged to pay. It's complicated by double-taxation laws and treaties blah blah but you can get away with it. Simply open a foreign bank account in your name you will need a passport# which is maybe reported. Get all sophisticated and open a company in st. kitts which is owned by a panama PIF and you won't hear or see the tax man because it's impossible to trace.
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#25

03-11-2010, 11:27 PM

is the epass in your name? or do they have your address?

if its anonymous, and was sent to an "empty building" near your house, then its a whole different case.lol

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#26

03-11-2010, 11:53 PM

Originally posted by xxweekxx

if its anonymous, and was sent to an "empty building" near your house, then its a whole different case.lol
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#27

03-12-2010, 02:34 AM

always best to delcare everything!
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#28

03-12-2010, 03:02 AM

I think that whatever the payment method is, you should deal with the reporting of the transaction the same way.

You can be paid by paypal, epass, cheque, cash, money order, credit card, debit card and many more things.

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#29

03-12-2010, 03:23 AM

Originally posted by Jarmusch

It's the sort of thing you shouldn't be asking on a public board.

actually a few more for emphasis

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