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30

Man Faces Five Years in Prison for Failing to Declare Taxes on $1M Poker Winnings

A small business owner and poker player in Connecticut has pleaded guilty to one count of tax evasion. The man faces a maximum jail time of up to five years. Guy Smith, age 62, of Shelton, Connecticut has waived his right to be indicted earlier this December. He pled guilty instead to tax evasion on his business income and winnings from poker. According to the United States Attorney's Office fo[...]   Read more » Man Faces Five Years in Prison for Failing to Declare Taxes on $1M Poker Winnings

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Man Faces Five Years in Prison for Failing to Declare Taxes on $1M Poker Winnings  0   
this news show how you cant do anything to avoid paying tax and that state will come to collect anything that belong to her!but as we can see,they did contact him several times,but he didnt react on this and didnt report his winnings and now maybe he will go in prison!in america this works very good and you must pay for everything,which isnt case for lot of other countries!

     
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What a "good thing" he did. Refuses to declare income, pays all outstanding taxes, plus interest or penalties and 50,000 dollars guarantee for pending sentencing. Now he is waiting for the result, This thing is bad for him but the mistake costs.

     
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A pity that this player has not declared his earnings both in poker and in his company, I think that part failed, the United States is one of the countries with the highest interest rate in the world, they pay taxes even for pleasure, in other countries It is not like that, I think because it is the world power, well it only remains that this case be resolved by the player, so that he does not go to jail, he must do it for his family.

     
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He is cooperating now with the authorities , paying his taxes and fines or whatever else , I guess the penalties will be the minimum , hopefully for him he will be able to avoid prison time or at least reduce it to the minimum and get a suspension for it for some years . although $1M is indeed a lot of money to try to avoid paying your taxes for .

     
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The authorities consider us slaves and that is real truth. Many people do not like this huge taxes but we have nothing to do... if don't revolt and lead the countries exactly as they should. The punishment will probably be with suspended.

     
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we all can see how things work in usa and that you cant escape from paying tax,because when you win more then 5000 $ on some tournament,they send report irs,so they must know everything about all players!whats most iportant they did contac him,but when he didnt respond this was last step!maybe he will get just big money punishment,but who know,few months of prison for him that they show all people example!

     
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I also hope he will pay his taxes and avoid the prison. Even if he don,t want to pay this in my opinion 5 years of prison is not fair at all and no one deserves this. Looks like he is a good poker player and he knows how to play poker pretty well and he just need to pay this and forget about this.

     
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In some countries like the United States you have to declare your business and pay taxes according to the law, they should always do it otherwise they will have problems, in my country it is not like that, but we must obey, there is nothing else, but you get jailed and you lose everything, there is We have to be careful about that, we must obey our laws, even if we think they are a bit unfair.

     
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We can only wonder why people do ''crazy things'' when they know that they can be caught, but we should not be surprised. Donald Trump was a citizen who did not pay all taxes and this thing proves that tax evasion is very high in USA.

     
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this is not some private poker tournament where only that people know for it,its something that you played in casino and ofcourse this people need to make report for every winning from it,especially when you have this kind of big winnings!so if they contact you several times and ask you to contact them,you can know that they will come for you soon or later!
dingo you say that 5 years is too much,but they dont say that he will get 5 years,they say that you can get up to 5 years,so he get maybe 3 months,maybe 1 years,maybe nothing!

     
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I recorded an error on the part of this player, he should have declared, I think sometimes we think that justice will not realize it, in the end everything is known, of course it is a lot of money to pay taxes when you delay, it accumulates and it is painful to pay, but that's the way they are the laws, and sometimes for making us crazy we end up paying dearly, even in jail.

     
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So the casinos inform the IRS , the tax authorities for the winings when the player wins ,interesting . I always have this question , we live in times when everything can be watched by the Big Brother Government in every state, electronic ways and cards can be used to track every transactioons , paper money might seize to exist in the future . Anyway , governments are in position to know everything . yet every year they invite the citizens to complete the tax forms , to state truthfully their yearly incomes and their sources , if you hide sth , if they want they catch you , if they do not want they pretend they havent seen your wrong unlaw tax state year state, but when a economical crisis comes all of a sudden they discover in no time thousands of non right on purpose tax declarations , and then they impose very large fines , or even prison time and they seize property , ofcourse not if you are wealthy or if you have connections . The system works perfectly . Congratulations

     
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Obviously there is the national gambling office in that country which has huge potential to catch tax evaders. You cannot fool the authorities if have been recorded in the history register with the games played. This man needed to know this thing but he ''forgot''...

     
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in usa first thing is to pay tax and then its everything else and thats how this country work for decades!first thing that they ask you and care for is to pay tax for everything and then you will get your rights!thats why is strange that somebody who is old like this man,didnt want to answer to them,even they contacted him!

     
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This is interesting news. The topic of taxing winnings in poker, lotteries or casinos is little discussed.
For example, I do not know what is the percentage of tax on online winnings.
Unfortunately, I do not have such problems because I will not win anything.

     
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Taxes in the United States are mandatory, they must always pay, but sometimes we don't, and sooner or later the authorities will find out and you will pay with jail, sometimes it becomes more difficult for us when you do not declare several years, that It accumulates and in the end it is difficult to pay for it in one person, which serves as an example to avoid making mistakes.

     
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It is not at all easy in USA to pay taxes, when you have a poorly paid job. Many people were left without their personal homes, when banks or state confiscated them. Others have money but are stingy to pay all taxes. The risk is on their skin.

     
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That is why the United States has very high tax rates, because they exploit poor people, we must take that into account, because it is abusive, but what is going to be done, that is why it is a world power, many income, but if people know of those norms, because he gets to hide and not pay his taxes, jail is hard in addition to being fined, they should think a little more, the state is not going to be fooled, hopefully this problem will be solved.

     
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Really idiotic

Idiotic on behalf of him not to inform IRS for his poker winning and declare taxes on these winnings .
If US IRS is so connected with everything and they are getting the info on the gambling winnings of US citizens , why try to hide it ??
You have nothing to win , only to lose , lose money on extra taxes and fines and interests , lose time with this case , gamble with the possibility to be convicted to jail time , even with suspension due to paying fines and taxes and cooperation with the authorities after being caught up etc etc .
Also now he is on the black list , he will be checked every now and then for any inaccuracies in his tax reports , they will be waiting to impose him greates fines , and ofcourse the suspendes jailtime if he gets one indeed .

So why did he tried to hide the $1M ?? i mean , if he lived in a banania country like Greece ( Big Smile) , i would understand him completely , here they are ALL thieves , but in USA man ?? And he is not a wealthy man , a big fish , so he will be crucified as an example for the rest .

Really idiotic

     
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Luckily I haven't this kind of problems Big Smile Big Smile

     
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