General

It's $200..... so no.... IRS gets picky when it comes to 10k or more...

I made 3 billion meso in income in maplestory. Do I need to report to the IRS or should I hold it in an offshore account on maple island?

Personal transection do not need to be reported. You need to file to set up a small business for it to count as income.

@BoredAF: Also, since you sound a bit educated on it, is the other person right in saying that I only need to report earnings above a certain (WAY larger) amount?

[quote=BoredAF]If you send it as a gift no. If you send it as a business transaction, then technically yes. But the chances of you getting audited by the irs, over one missed transaction of such a small amount is pretty much nil. If you have a high paying job though, and it doesn't add up....well then be prepared.

A buddy of mine is a contractor for home renovations. Long story short, he ended up being audited and is in the process of paying off 250 grand now.

Also I'd like to add, that you should refrain of making any legal document proving that you committed fraud against a company. Since when you play MS you agreed to the ToS, and in said contract agreed not to do such things.[/quote]

Let's say I take this to Jackson Hewitt, and have them prepare my paperwork/send it in or whatever. Should I, or should I NOT tell them that I made 196 bucks through Paypal from Maplestory?

Some things:
-I was paid by an official company (though I was paid due to going against the ToS of Maplestory [just sold meso]).
-I'm not sure if this is considered a "Business Transaction" or not, but I'm almost positive it wasn't sent as a gift.
-I do remember Paypal mentioning that I should keep the record of the transaction for tax purposes, I think.
-If, by chance, I choose to not report it because of the first comment, what happens if an Audit takes place? Will I be paying back RIDICULOUS fees, or just how much I was accountable for?

[quote=BoredAF]Say's the person who doesn't even do his own taxes yet. 'Its just money being passed around.' I'll try that and say my company just passes around money to me...they don't need to worry about taking taxes from it, or what company it is. Hell I'll just say I made 80grand this year from some place.[/quote]

Hence why l got banned from paypal use after a certain point but there's no government involvement since paypal will draw the line for you long before it gets to that point.

[url=http://i.imgur.com/tSRXOlY.png]pic related[/url]

So l phoned and was informed that

[quote=momozzz]they can no longer offer their services to me under suspicion of money laundering[/quote]

[quote=BoredAF]

Also I'd like to add, that you should refrain of making any legal document proving that you committed fraud against a company. Since when you play MS you agreed to the ToS, and in said contract agreed not to do such things.[/quote]

lt's just money being passed around according to paypal since there's no direct link between paypal and Nexon hence the lack of documents pointing the money to MS.

@NoNsensical

Paypal at some point froze my account and told me they can no longer offer their services to me under suspicion of money laundering but there was no IRS calling or police knocking on my door.

Paypal is going to report you to the IRS only if you're making more than 20k a year off of their services. Searching around a bit, you shouldn't have to worry about the IRS tracking you down and ripping money off of you unless you're making that much.

Unless you get audited, I wouldn't worry about it.

ONly if they send you a W2

nobody is gonna know about it

[quote=AllDayErryDay]@momozzz: Oh word. Okay, well thanks for the help! You didn't have to pay MORE in taxes for that?[/quote]

Not that l know of. Mommy asked me how much l've made this year (referring to last year) and l ended up getting a cheque in the mail for a few hundred.

@momozzz: Oh word. Okay, well thanks for the help! You didn't have to pay MORE in taxes for that?
@fun2killu: I made about 200 dollars in one sale, not entirely sure if that's the amount where I need to start reporting it.

no, u only file taxes after u reach a certain $. I don't think ya qualify

[quote=AllDayErryDay]Well, I actually work and I'm doing my own taxes (at least, taking it to a place for them to do it). So you told your mother that you were making income from Maplestory, and had the actual numbers documented on how much money you made from it? That's all you did?[/quote]

Paypal transactions going into the paypal account and statements for transferring from account to bank and l just gave it to my mom cause l have no idea how to do my taxes.

Well, I actually work and I'm doing my own taxes (at least, taking it to a place for them to do it). So you told your mother that you were making income from Maplestory, and had the actual numbers documented on how much money you made from it? That's all you did?

l gave my mom all the infos about money coming in from the mepelstury and l got more money from that. Should be the same