aquafish82
Footballguy
Do you think there is a good chance we could run into legal problems if we participate in a pool or league that has 5 figures payout that is paid out on paypal?
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Legal problems with big pool (1 Viewer)
- Thread starter aquafish82
- Start date
ShawneeFFL
Footballguy
Very possible. Any winnings over $599 usually has to be reported on a 1099, but that might only be from legitimate gambling facilities.
aquafish82
Footballguy
i plan on reporting it to the IRS...the charge I am concerned with is not tax evasion, but rather illegal gambling type charges.
aquafish82
Footballguy
i would also rather not have my paypal account suspended