full tilt poker + the IRS = Ohhhhh snap

According to a number of online reports, the Groupe Bernard Tapie is nearing the sale of Fult Tilt Poker.

an agreement has been approved by the Department of Justice and that former Full Tilt players would be refunded more than $300 million worldwide.

“I have not seen final paperwork but I believe a deal in principle has been reached,” Jeff Ifrah, attorney for Full Tilt’s CEO Ray Bitar, told Card Player.com.

... Apparently, the Department of Justice would handle payback to American players, while the Groupe Bernard Tapie would be responsible for refunds for the rest of the world.

Hope noone on here won too much, cuz they about to send audits out like a butthole :smash:

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Originally Posted by ScareCrowAKA

According to a number of online reports, the Groupe Bernard Tapie is nearing the sale of Fult Tilt Poker.

an agreement has been approved by the Department of Justice and that former Full Tilt players would be refunded more than $300 million worldwide.

“I have not seen final paperwork but I believe a deal in principle has been reached,” Jeff Ifrah, attorney for Full Tilt’s CEO Ray Bitar, told Card Player.com.

... Apparently, the Department of Justice would handle payback to American players, while the Groupe Bernard Tapie would be responsible for refunds for the rest of the world.

Hope noone on here won too much, cuz they about to send audits out like a butthole :smash:

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Man am I glad I am off their radar:sifone: I hope:coolgleamA:

Live in Canada so no IRS.

The Turkey

Move to britain.

The Eej

Needs to leave this ****hole.

The Hammer

Maybe we should all invest in a company that makes prison jumpsuits?

Maybe we should all come to the UK and party like its.... 1999?

The Punxa

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Originally Posted by nodepositneeded

Maybe we should all invest in a company that makes prison jumpsuits?

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everyone that has called my all in with a crap hand and won should be in a jumpsuit?

... im safe, since i prob deposited a total of 150$ on that rigged a$$ BS site and lost it all

but now that the complete deposit history will be in he gov't hands... im sure they will be looking into everything about everyone who made any deposits at all

I never deposited at FT but did win $400 aprox and transfered it all to other people in trades

I made weekly deposits and they owe me $129 I'll probably never see because they will "keep it for taxes". I only made the minimum deposits.

the taxes will go on how much u were up or down for the yr... I dont know if they would take out the standard % of taxes for gambling winnings, then leave it up to you to fille corrections on your return (for Actual tax bracket and offsetting losses)... or refund u the whole 129$ and leave it to u to claim it

my guess is they will hold it out of the refund, since that way some people wont file the corrections and even if u do file the correction, the gov't gets a few months of interest free loan on your $

... since they are broke

I have no idea how this all happened.

I blame ESPN

its the administration... they pretty much own the banking system now, so they can keep track of everyones money...

couple that w now having fulltilts transaction history... Im sure every one who made a few regular deposits and withdrawls are gonna get looked into

so even if u lost money on fulltilt, but say made money at casinos or sports betting... whos knows whats gonna happen

I really don't think they're interested in going after players for what was done in the past.

They are moving towards regulation, so they can monetize it on their end, and I think it only hurts them to try to govern the past. It would scare off too many people from helping them profit in the future.

Did I miss something that said they were looking to recover funds or investigate individual players?

ya u prob dont have tp worry, unless for the past few yrs or so u were in the 15% tax bracket and come to find out u got like 25k on fulltilt, lol ... thats prob the only thing they would spot

u know they gonna be looking though, or they wouldnt be interested in doing the refunds for american players themselves

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Originally Posted by ScareCrowAKA

... im safe, since i prob deposited a total of 150$ on that rigged a$$ BS site and lost it all

but now that the complete deposit history will be in he gov't hands... im sure they will be looking into everything about everyone who made any deposits at all

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you can claim your loses on taxes too:)

I wish the gov't would regulate it... I would play if the companies were big name companies on American soil that were prosecutable in the American court system

but i dont see it happening, since it would pretty much put all the live poker rooms out of business... and hurt alot of local/state municipalities that rely on the tax revenues, (and hault all the kickbacks from the underground rooms, :))

they would have to do something like enforce a 200$ a day loss limit online, that would basically steal some of the low limit players from the live rooms/casinos and leave in the big fish

I imagine the entities that operated it would look alot like multi-state lotteries, like powerball megamillions

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Originally Posted by ScareCrowAKA

I wish the gov't would regulate it... I would play if the companies were big name companies on American soil that were prosecutable in the American court system

but i dont see it happening, since it would pretty much put all the live poker rooms out of business... and hurt alot of local/state municipalities that rely on the tax revenues, (and hault all the kickbacks from the underground rooms, :))

they would have to do something like enforce a 200$ a day loss limit online, that would basically steal some of the low limit players from the live rooms/casinos and leave in the big fish

I imagine the entities that operated it would look alot like multi-state lotteries, like powerball megamillions

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I'd like to see the comps that would be available to online poker players once Harrah's (now Caesar's) and the likes get into the game once the industry is regulated.

probably pretty decent

... you just won 5k online, heres a free room, at the closest harrahs, come get drunk and blow it all :reddevil:

I miss the weekly Poker games at Full Tilt :(

I miss the ability to play poker with at least 6 other people at any one time. Dont care who they are!

We might have to drum up a game on Merge. I could use a good game with the regulars right about now.

the only site i have found it easy to deposit onto, is intertops... which is merge i think

but I dont play much, cuz in my opinion, its rigged for action

but they have alot of sit and gos that usually have noone registered, that wouldnt be 2 bad if u were playing w people u know

... and they allow for instant account transfers between players

oh merge is carbon... i tried depositing on carbon a while back... to no sucess

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Originally Posted by NDN

We might have to drum up a game on Merge. I could use a good game with the regulars right about now.

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I am so regular in all the right ways:sifone:

I still play on Cake, just not as often as I would like.

I agree, i been missing our games we use to have together.

i miss online poker in general fixed or not

Why did u guys stop Playing... Dont they have like play $ tournaments, + paypal and a month at a time "subscription fee" ???

or is that 2 much BS to go through

paypal and poker for USA?

no I just figured like, doesnt club wpt do it that way? I guess they play for prizes, thats how they get around it...

... never mind, but I did just think of something... I wonder how many underground games go on online, with people just using the sites software on the play$ side... or just cheap less than dollar S&Gs... then transfer the $ between themselves through other means?

Im guessing thats been going on since online poker began... kind of sad It never occured to me, that people could be doing that

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Originally Posted by ScareCrowAKA

no I just figured like, doesnt club wpt do it that way? I guess they play for prizes, thats how they get around it...

... never mind, but I did just think of something... I wonder how many underground games go on online, with people just using the sites software on the play$ side... or just cheap less than dollar S&Gs... then transfer the $ between themselves through other means?

Im guessing thats been going on since online poker began... kind of sad It never occured to me, that people could be doing that

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I doubt that happens. Maybe between friends for kicks, but if anyone is that serious about poker, they'll simply play at the few sites still taking US players.

it would seem to defeat the purpose of scowering the sites for weaker players to make money, or multitable grinding, or tournament play... but some high rollers on a forum somewhere could be, monthly take over a 1 table SNG on some site... 1$ site buy-in... 500$ "outside" buy in

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Originally Posted by ScareCrowAKA

it would seem to defeat the purpose of scowering the sites for weaker players to make money, or multitable grinding, or tournament play... but some high rollers on a forum somewhere could be, monthly take over a 1 table SNG on some site... 1$ site buy-in... 500$ "outside" buy in

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I don't think you'll find any highrollers playing "play money" games for real money.

I'm not a highroller, but if I were, I'd want the instant gratification of winning real money.

lol good point, I dont see how people even enjoy playing online... its fun sometimes, if you are bored, and during the week I could see making money at it, if u were good multi-tableing or tournament play, but playing live on the wknds, is so much more fun... live poker in general, is much more fun... Shlt, I wish I was somewhere where I could go play in the basement of a chinese restaurant... thats so much more cool!

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Originally Posted by ScareCrowAKA

lol good point, I dont see how people even enjoy playing online... its fun sometimes, if you are bored, and during the week I could see making money at it, if u were good multi-tableing or tournament play, but playing live on the wknds, is so much more fun... live poker in general, is much more fun... Shlt, I wish I was somewhere where I could go play in the basement of a chinese restaurant... thats so much more cool!

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I absolutely agree. But, sometimes you have to put in so many hours when you're playing live, that the convenience of playing online does have a certain appeal at times.

Ya and unless u live in a big city w like 50 diff. places u can play, it starts to get a little harder to find games w people who dont know u...