Gambling Winnings Tax Questions

[iamtigerwoods]

isn't online gambling illegal? So, wouldn't it be like reporting your income from selling drugs?

 

[TXSooner518]

gambling online in and of itself isn't illegal. it's illegal to run an online gambling site, and with the new UIGEA regulations it is illegal for banks to knowingly process payments to online gambling sites.

besides the 'silver platter' doctrine means that the IRS doesn't share this info with the DOJ