Cashing out!

just remember the IRS gets flag with deposits to your bank of anything greater than $9999. I would spread out your deposits to the amount you want. For instance if you want to deposit back to your bank account the full 11k. I would cut that to 3 grand a piece on different days.

Full Tilt wont take any taxes out of your check, but it is required reportable income that you have to pay taxes on to stay legal. I would contact the IRS if you are concerned and they will get you the appropriate forms to fill out. I'm sure there are ways around paying taxes on it and getting away with it, but I am one to keep my nose clean.

PKRS that threshold is now 5K. since 911 Homeland security requires banks to report any transaction in excess of 5K and the IRS consequently changed their rules. And if you try to do a series of checks say for 2500 each from the same source they will flag and report it.

You do owe and the Irs knows who you are for sure. Sorry to break the bad news.

Pay what's owed with cash, or face the possibility of paying with 'time'. Not to mention that if they catch you at cheating (did I say 'cheating' on a poker site?) the interest and penalties are astronomical.