[ipgyst]

So I read THIS article, which led me to THIS website (among others). I'm tired of all the dancing around (and fees I incur) that I have to do to deposit and withdraw money from online poker sites, and something like an offshore account in Switzerland with an associated credit card sounds dreamy. Any of the USA players out there try something like this?

(Before misinformation is spread, no this is not illegal. The IRS even has rules and guidelines for such things.)

[Scoutens]

Thanks for posting those. Very interesting read.

[Double Eagle]

Be very careful before doing this. Read the first article and note that reporting the existance of the offshore account to the IRS is required on your tax return.

However, the reporting of the offshore account will greatly increase the likelihood that you will be audited by the IRS as offshore accounts are considered to be Red Flags. Having been through six audits, I will tell you they are no fun.

[ipgyst]

One last post before I unsubscribe from this thread and ignore it forever. So nobody will own up to having done this? So be it. If I had an unexpired passport I'd open up a Swissquote account just for the heck of it. No sense paying $100 for a passport I'll never use, though, just so I can open an offshore bank account of questionable utility.

Originally Posted by Double Eagle

Be very careful before doing this. Read the first article and note that reporting the existance of the offshore account to the IRS is required on your tax return.

Very true, although the aggregate value of your accounts must exceed $10,000 before you have to report them. I'm small potatoes, but some of the high-rollers on this site might have to report. Which leads to an interesting question - if I have $15,000 in a Full Tilt account, does that count for purposes of filing the "offshore account" form?

Originally Posted by Double Eagle

However, the reporting of the offshore account will greatly increase the likelihood that you will be audited by the IRS as offshore accounts are considered to be Red Flags. Having been through six audits, I will tell you they are no fun.

Six audits? You must have a lot of offshore accounts.

[TheMightyJim2k]

if you trying to fund FTP, or AP they have figured work arounds to accept credit and debit cards. I've used my debit card within the last 6 months to get a bonus on AP.

[ipgyst]

Originally Posted by TheMightyJim2k

if you trying to fund FTP, or AP they have figured work arounds to accept credit and debit cards. I've used my debit card within the last 6 months to get a bonus on AP.

Ooh very nice. I may be able to avoid epassporte yet...