oh wow. so much overthinking itt.

op--make a w/d under $10k. w/d to whatever account you need to (your dads or yours). really all you should be concerned about is the poker site, and if all goes well rinse/repeat.

the tax problem is a separate issue. i advocate paying federal income taxes, and do so myself as a full-time poker player, but from the answers itt it appears that most people vastly over-estimate the irs. while they certainly arent to be messed with, the bottom line here is that youre TRYING TO DO THE RIGHT THING. if you pay your taxes on this income (whatever amount you actually legally owe), and THEN get audited, your bases are mostly covered. even if you made an error procedurally (like paying the taxes on the wrong ss # or anything else), the point is that you are making a good faith effort to do the "right thing". in this case, at most, if you made some error they would slap you with interest and penalties and you would be on your way. by FAR the most likely scenareio is that you never get audited. keep that in perspective. again, even if you did get audited you paid the correct amount. the irs is in the very business of collecting the "correct amount".

account is registered in india

Ip shows you played in india

Withdraw money to an indian account (open a new account if you have to)

dont see the problem here


edit: oh you registered the account in usa... biggest mistake you made

Account is in OP's Father's name with a US address...Father is in US working for 5 years via a Green Card...

just do a BOA trade with someone and pay them a 10% vig.

OP lives in India.....

OP Played Poker & won.

OP should withdraw to India & pay taxes as an Indian.......

^^yes. op should w/d to wherever he needs to, and then pay taxes to whatever jurisdiction he needs to. then he needs to start playing/winning/withdrawing on his own account. though i wouldnt personally have played underage, i dont know what the big deal is, and i also dont see the need for three threads and to blow this up so much.

/thread

the problem is how to withdraw to india?

via donkey

/thread

to withdraw to india:

there are two options. 1. get your dads permission to w/d to wherever he is, and then send the $ to you. 2. attempt to w/d to india directly.

i surely hope the problem here is NOT that youre still keeping all this from your dad. that didnt even enter my thought process. if that is the case, you are a moron, and i want nothing further to do with this bs.

dad obviously knows everything...i am not that foolish...

and if he withdraws the $ and sends to india, then it makes no sense, because then, he is liable to pay taxes in US only as if it were his income

how do i withdraw to india directly when the a/c is on his US address?

so your entire issue is "how to avoid us taxes"?

im a bit embarrassed that i have spent this much time actually trying to respond in a real way here. if youre attempting to w/d on the up and up (paying all the taxes etc), just do it. if youre trying to avoid stuff, and asking for info on that here, then take it to another forum.

you're obviously misunderstanding here. withdrawing to US is not what i want to do for these reasons:

1> the money has been won by me, playing from here, so i should be withdrawing and paying taxes in india and not the US

2> if i withdraw to the US and the IRS finds out (from date/time of sessions reported) that it was not dad who earned the income in the first place, he will most likely get in trouble

3> the amount $70k is a huge amount and even if i want to withdraw to the US, it is surely going to be scrutinized and pose problems for dad inspite of doing things right, which could have otherwise been avoided, had i withdrawn to india on dad's name itself

is changing dad's address to india and withdrawing here (whichever way) not a feasible solution? can i not then withdraw the money to his indian bank a/c and report it in india and pay taxes in india?

basically, i want the US to be out of this whole scene, because i don't want dad's residency in the US to be at risk because of me, and i cannot take it for guarantee, that if i withdraw the money to him in the US, it won't pose a problem for him at some point or the other

the question is , if i change the address to india, won't the US linkage to him be totally eliminated, because neither the account nor the money will be linked to US anymore

Email the site and ask them?

ask them what? i can't tell them i am the son! but i can change the address...

is the idea OK?

I have no idea if it's a good idea or not; ask them and find out if they'll let you cash out to a new address in India because you've moved.

You're basically screwed.
Same thing as if a 17 year old walks into a casino and hits a slot machine jackpot. If you're underage, they have no obligation to pay you anything and they won't.

You were dumb enough to play to 70k under fraudulent terms so deal with the consequences.

No. Now stop being a dumbass. You have ****ed up and making multiple threads about this is not going to help. It's your dad's account and he lives in the US. Withdrawals should be to him and he pays whatever taxes are due. Anything left after that he can send to you as a gift to his son.

Who is he going to get in trouble with? it's his account and he will have paid taxes on his winnings. The IRS will be happy and no investigation will follow.

Scrutenized by who? he has a winning poker account and he will have paid his proper taxes. End of story. No investigation follows.

I have no idea of the tax structure on poker winnings in India but you are obviously just trying to avoid US taxes. Now, simply treat all winnings as your dad's because they are his and get him to withdraw in the US. People are allowed to win money there you know.

After this shambles that you have created, and are trying to make worse by scratching around trying to avoid taxes, open your own freakin poker account and stop being a fool.

This is false....OP does not owe US taxes..OP is not a US citizen nor was the money won while he played on US soil thus no US tax liability...The fact that the account is in OPs father's name does not have any impact on who EARNED the income...In fact it would be a crime to pass the liability onto another that did not EARN the income in this fashion...

This is not to say the IRS can or will not claim it's OP's Father's income...Then OP and Father would have to prove otherwise..

OP you are being an idiot and a troll(4 threads on this)..Several have told you what you need to do...You have/can potentially created a nightmare for your father......

FWIW I am starting to believe OP is FOS and the situation is not how he says it is..

Could a Mod please verify that OP IP address is from India and not in the US..

keep your dad fully in the loop, and have him prepared to help you out. change your (his) address to the correct indian one on the poker site, so long as youre prepared to have your dad verify that he indeed lives there (or you can verify for him). after you have taken care of all that, start w/d'ing parts or all of the money. pay whatever taxes are owed.

what actions have you taken in real life after having made these 3 or 4 threads? this isnt the big deal its being made out to be.

i totally agree with you. thanks so much for all the help indeed. haven't done anything about it yet.

i'm thoroughly disappointed over how rude one or two people have been. i was just here to ask for sincere advice guys, not to make me feel worse about this. i was here so that i could correct things and to do everything the right way.

Correct. The OP doesn't. His father does. It's his account. Good luck with arguing to the contrary. His father also needs a kick up the backside for letting a minor play on his account.

goodluck op

just wanted to let you all know that i just spoke with dad's tax consultant and i have concluded that i shall withdraw all the money to dad's bank a/c and have him pay the taxes in US itself. the tax guy told me the same thing as most of you have , that as long as dad reports all the income won, he should not be in trouble. after doing that, i shall play on my own name from india and never bother about this crap anymore.

Do you think you should start another thread though just to make sure?

Having your dad pay taxes when he doesn't owe any sounds straight up insane if you ask me.