I’ll try to keep this as short as possible.
I play poker regularly at casinos and make a profit doing so. Right now, I keep my cash in my room at home but I’m concerned with security. I just began playing at the casino since I turned 21 not too long ago, so I only have about ,000 right now. I’m somewhat clueless when it comes to legal issues so here are some questions-
1. If I am depositing cash out of nowhere (since it’s not recorded from the casino), is there a way I can be "busted" for not paying income tax?
2. Does it matter the amount I deposit in a certain month?
3. Do I have certain "privacy" rights or something?
4. Does this issue range from bank to bank?
5. Is it a matter of opting out of certain features such as "fraud protection", where they may monitor your account more closely?
6. Would it be more wise to opt for a safe/safe box? Though I would prefer to have a bank account.
7. Is it legal to have 2 different bank accounts (with different banks) under the same name?
I guess the main question is, for those that are knowledgeable, to please give me your best advice.
EDIT- I’m not trying to evade taxes, and honestly my mom still helps/fills out my tax forms. I’ve read up about how to report it as ‘gambling’ winnings. If I put in the money today, would I have people calling me or would that wait until after deadlines in April?