His method -- buy VISA giftcards at a grocery with his AMEX 5% cash back, then use those giftcards to purchase $$ transfers into his bank account (which would then be used to pay his AMEX bill).
Thanks! Your comment + the headline + basic understanding of tax law supplies the whole story, without needing to engage with their formulaic clickbait.
The other trick I heard is betting on two opposing teams in two betting sites. AFAIK got my mate banned after collecting $70k.
What site doesn't collect vig on the heavy side?
It's called manufactured spending...
This seems reasonable on the IRS’ part. Subject should just pay taxes and move on.
Agreed, it is income. Money received through work, in this case gaming the credit card company.