HYIPs and filing for taxes... how does this work???

United States
November 29, 2008 7:39pm CST
I'm sure you're all familiar with High Yield Investment Plan sites like Megalido for instance (one of the more popular ones). Well, what i'm wondering is this... Let's say, for the sake of argument, your return on your initial investment ends up being A LOT of money, like a quarter of a million or maybe even millions. You withdraw from the HYIP site into your Alertpay account or whatever, then you transfer that money into your bank account... Now, your bank is probably gonna put your account on hold cuz they're gonna be like whoa where the heck did he get all this money from? Secondly, these HYIPs don't take taxes out of your money, so how the heck is that suppose to work? Do you go to a tax filing place and they show you how to take the taxes out of your own account yourself? How will all these issues be handled? Oh and in case anyone is wondering, I live in NYC and also bank locally as well.
No responses