im not sure if this has been brought up yet but how will taxes be handled with regards to our FTP funds? if your HEM has you up 100k but 40k is still stuck on FTP (and they havent announced US players wont be paid) do you claim 100 or 60? If the correct answer is to claim 100 then anyone else is free to join me in bombing some govt buildings

From what I understand if you couldn't realize your money you don't have to report it. I'd ask a tax professional before doing that but basically any money you made last year but is locked up this year you have to report. Any money you couldn't get to this year you can deduct I believe. Of course this requires you to make enough to cover that either live or on other sites you can't have a negative poker income I don't think. I'm far from a tax professional and most of the advice comes from people who aren't tax professionals either so seriously don't follow my advice until you consult with someone who is, but that's my understanding on it.

From what I understand about the tax situation is that if you were able to cash out but didn't then you owe the tax. If you can prove you tried to cash out but never received it then you can deduct it. However you will have to wait with that deduction until the whole FT mess is completed which might take a long time.

lol seems like the worst angle ever considering the guy looks to have lost a ridiculous amount of value from it

lol no way im reporting my FTP money. It's money i never saw, and thats good enough for me.

im with disco on this one. dont care if its illegal or whatever. **** that.

oh and that angle, someone shoulda punched him. then someone shoulda punched the guy who called twice.

hard to fold top pair live. you don't get it very often

Just back from an awesome month in America, great times traveling with a couple of buddies, missed the whole shutting down of ftp though and have been barely able to follow it due to internet restrictions (only have an ipod touch so needed free wireless). Kind of caught up skim reading the nvg threads and listening to quadjacks last night. I suppose its a waiting game until september now.

Anyway big props to the guys that recommended game of thrones, really good series, my mate kept badgering me to read the books so I bought the first one for my plane ride home and have been unable to put it down. I havent read like this since harry potter. 3 days and im already 100 pages into the 2nd book. To anyone who enjoyed the tv series I really urge you to read the books. Utterly gripping stuff, and lets face it you have a lot more free time on your hands than you used to.

if anything dude had to call so d-bag shows his hand. it was worth the price of that minraise AINEC

Yeah game of thrones is so good. I just wish I read the books first cause I can't get the tv images of the characters out f my head. But OTOH, I'm amazed at how well they adapted each chapter to a scene in the tv show. It's so well done

http://www.aptiquant.com/news/is-int...-exactly-that/

Seems like a way worse idea now given that the DoJ is actively negotiating with FTP over a potential sale and criminal charges. It's not too far out of the realm of possibility that FTP turns records over to the DoJ although that would also probably imply that we get our money.

And yeah pretty sure guy with TP in that vid calls if he like 4x's the river raise so him being a dbag and angle-shooting a minraise saved him a good amount. He's probably too ******ed to realize it though.

if they say you owe back taxes then just call one of those lawyers with the late night tv commercials that tell you how to reduce your $184,839 IRS take debt to $8.67, 2 double cheeseburgers, a spare tire from a '87 volkswagon.

You cant be taxed on money you cant collect. Im pretty sure some mcdees workers have more taxable income than me this year.

I tried to use that argument for 2010 income that I couldn't get to in 2011. Long story short as long as you could get your money at the end of 2010 you're out of luck if you get it stolen in 2011 although you can write it off in 2011. Again if you guys are talking about a significant amount just pay a professional for advice it's well worth it because the irs isn't going to buy your logic when the law says otherwise.

lol taxaments

Im not really following you here. So if for one day I was able to get my money, but now I cant then im taxed on the full amount? That doesnt really sound right. Also my ftp money was all made in 2011 if that changes anything. No matter what Im not paying taxes on my frozen ftp monopoly money.

I would take Zach's advise and talk to a tax professional if you have a decent amount locked up on FT. It might not be fair that you owe taxes on it but who said taxation laws are fair.

if it doesn't hit my bank account, i don't pay taxes on it. nuff said

hope you don't mind when the irs agent shows up and says "you owe all these taxes plus interest and penalties. nuff said"

not gonna happen.

But how would they know?

I mean I'm pretty sure you're actually fine and don't owe anything but it's a very real possibility that an FTP-DoJ-Investor deal would include the irs getting access to records of winnings on FTP. Although I guess if a deal was reached we'd get our money anyway but w/e I just prefer not to commit tax fraud then I don't have to worry about that kinda thing. Also I'd be careful if your name is given anywhere about bragging about how your attitude towards taxes is "well **** them if they want me to follow the law". Like I don't think you are actually at that much risk just wouldn't risk it if I were you.

I guess I'm just thinking either they don't know and you don't get your money or they do know and you do get your money so it doesn't matter