right. and with the servers in ireland it's tough to tell if that income was even taxable in the first place. in fact i've been in touch with a guy who said i can even recoup my previous years' losses from the gvt. he said he saved wesley snipes like 10 million.

I don't understand why it says: Please note that the registration process for email notification is no longer available on http://www.fulltiltpokerclaims.com/index.php

My email address is the same one I have linked to my FTP account just making sure I didn't miss something!!!

I never registered with CGC but I'm hoping I get that ****ing email on 9/16!!

on the site months ago it said you don't have to sign up with the website and that they'll email the account FT had in their records.

i wouldn't get too invested in 9/16, either. give it till 10/1 before you lose your ****

^^

ty

Last night, John Pappas joined me on my webcast. We discussed FTP remission in detail: http://podcasts.ontiltradio.com/play...pr-19-2013.mp3

could you ask about points also?

If I had 10k in my account on April 15th, played and lost on that day, will I be able to recover funds?

Your funds are being distributed to the player or players to whom you lost the monies.

I didn't think I would get any, just asking, as this is what is written on the site.

"It has been determined that the calculation formula to be used for the Petition for Remission process will be based on players' final balances with FTP as of April 15, 2011 (the "FTP Account Balances")."

I wrote about the tax issue of money on FTP back at the end of 2011. What I wrote then hasn't changed.

Let's say you receive $10,000 from remission; $4,000 of it represents funds you already paid tax on and $6,000 is money you won in 2011 but have not yet paid tax on. You would owe tax on the $6,000 in the year you receive those funds.

I'll append a Circular 230 disclosure here: This opinion is limited to the one or more Federal tax issues addressed in the opinion. Additional issues may exist that could affect the Federal tax treatment of the transaction or matter that is the subject of this opinion and the opinion does not consider or provide a conclusion with respect to any additional issues. With respect to any significant Federal tax issues outside the limited scope of this opinion, the article was not written, and cannot be used by the taxpayer for the purpose of avoiding penalties that may be imposed on the taxpayer.

-- Russ Fox

Should we expect a timeline for payment from the DoJ once the claims process begins next month?

Or are we going to have to wait hopelessly till the end of the claims process to be updated?

Totally get your point, don't think you failed making it.

However, what I'm saying is that I think trying to predict whether GCG/DOJ will withhold taxes based on logic, even logic based on tax principles, is flawed. This process has proven that they don't necessarily follow logic. DOJ has had remission cases before that are attached or related to something that could be taxable profits for some of the victims. I'm saying that I think they've decided in the past whether to withhold money in these previous remission cases, and don't see why they'd use a different standard here. (Although there I am trying to be logical...)

I get your point too, but I think you are not fully accounting for the fact that the government is hardly one huge intertwined operation. The DOJ has no idea whether you owe taxes on this money or not. The IRS might be able to figure it out given enough time and enough manpower, but fat chance of that actually happening. And it is highly doubtful the DOJ is going to delay FTP remissions in order to wait for the IRS to assess a possible tax withholding.

Which is not to say that it is impossible that someday, somewhere, some player could find themselves in a position, most likely at a random audit, where the IRS is aware that the player got paid, say, $100,000 in FTP remission but never declared gambling winnings on his/her taxes. Ouch. But it is to say that such a situation is not likely to be a routine result of this process.

Skallagrim

also from this.. if you had won money after apr 15th, would it be rolled back to your april 15th balance?

Question about appeals, If GCC says you're owed x, and your appeal for y is denied, then they just send you x?

Ie, there are no repercussions? Not to be frivolous or fraudulent, but just in case.

Totally agree with you that one hand of the government doesn't know what the other is doing, and that there are "separate" governmental agencies. Agreed that they couldn't decide on a case by case basis whether a victim had profit, whether they paid taxes on such profit.

Just saying that there have been remission cases before where some of the money for some of the victims are somewhat related to profits (not that the remission itself is a profit.) I think looking to those past remissions cases gives a more accurate prediction than interpretations of tax professionals, even if they tend to all agree with each other.

If they have never withheld a percentage for taxes in a remissions case, they (likely) won't here.

If they always withhold a percentage for taxes in a remissions case that has a similar proximity to a profit situation, they (likely) will here.

Don't think they're going to decide if they will withhold on this case. I think they long ago decided if they ever withhold or not.

We don't know. Stay tuned.

wait, so what are they gonna do with the full tilt points?

Well you moved and play FTP when out of the states right?

Were your points in your account when you moved?

Ask durrr. Oh wait....

Back to Junglemans question, I just messaged 2 of my buddies who moved. Both said their pts were in their acc

Same point I made yesterday. The fact that you can move and pick up your points makes it very unlikely they will pay these points out through a claim.

I'm not saying for people not to claim them but if a player can move right this second and gather all of their points it just seems highly unlikely GCG is paying these.

If they were paying these then someone with 30k in points could move right now and cash them out on Non US soil and still make a claim for them here. Cause I highly highly doubt FTP is sending GCG more info on who is moving now and cashing in points when they move

Yes we do know. Actually I know nothing. I am just following information given ITT by knowledgeable posters that I deem also to be trustworthy. I have read every post ITT as well as the 2 prior threads that this one was incarnated from.

Jeff, if y is denied they send you x.

I plan on asking for the value of the bonus that I had purchased shortly before BF. I was a Black Card member and still have the physical card. Actually to be fair it is the balance minus 27% as I had rakeback. Considering that I played almost every day for almost 5 years I don"t think there is any doubt I would have cleared it. Though it seems that the reason I could not clear it was due to the DOJ's actions and not FT's fraud but then again considering the state FT was in the day before BF I may well have not been able to rub that bonus money on my titties.

You probably would have cleared it but you could have also lost money in the process as well and you never never did clear it so how do you think you own that bonus money?

Should a winning player claim sessions that could have happened that didn't and add in their avg win rate as well?

In other news.......

There was a small girl who, as she lived with them at the time, named all the cats I later acquired. Today I received a package. It was a book made by a printing company. It consists of scanned pictures of the cats as well as words written by her.

On the first page is a picture of Sugar when he was a wide eyed kitten.

LOL
Anyone else find this funny?