FTP going through this month?

[TheTattooedGuy]

Looking a bit more hopeful

Tapie Slams Ferguson Rumors, Deal on Track for Feb. - Full Tilt News

[Spry]

Haley seems to think it is getting more and more likely players will get a good bit back: Movement in Full Tilt Situation, Players' RICO Action Dismissed | KickAssPoker.com

- she makes a few points about balances vs deposits and which will be able to withdraw. I'm wondering how affiliates who had some aff payments made to their player accounts and had them stuck in there will fare.

[TheTattooedGuy]

I have $1000 on there which I could really use right now for links lol (plus maybe $70 in RB owed, and $300 in iron man)

[Spry]

I have $1000 on there which I could really use right now for links lol (plus maybe $70 in RB owed, and $300 in iron man)

let's not play that game...

[pokerprop]

As is always the case, the real news won't make the news. There is serious charges here and is all about posturing. I'm not really sure Tapie is anymore than just a figure head, credible line. "we're broke, have nothing, look we're closed" is a good line to take imo when facing a zillion years in prison and oh here's a buyer who can fix it and maybe make it right while not breaking any US laws. There's obviously still negations going on outside of the sale. When looking for real story I wouldn't trust AGC, DOJ, FBI, FTP or anyone else. Really best move unless looking for traffic from it, is to just wait. Money will come when it comes if it comes, they'll comeback online when they come back online if they come back online. That last sentence is one I can trust.

[Jeremy]

let's not play that game...

Amen to that. There are players / affiliates who's lives were legitimately flipped upside down with the closure of all 4 of these rooms. I had a few bounced checks from FT, I wonder if those will be reimbursed. Anything I get back from failed payments or my balance stuck in there will just be a bonus at this point.

I'd really be more interested to see what happens to the thousands of players I had sent over the years, and if they will again be tied to me on revenue share should Tapie somehow bribe / payoff / suck off / etc. at the DOJ and open back up to the U.S.market.

The way this industry is, they will open back up to U.S. and all the old players but will indefinitely suspend their affiliate program.........and then 6 months later open up a new one with a fresh start and $0 debt or balances.

[Trikkur]

Yea seriously. I have 4 months of mortagage payments tied up in affiliate payments with just Full Tilt that I could use right now. I have pretty much written off ever seeing those payments though (anyone know if you can claim bad debt as a loss on taxes and if I should bother because it is poker in the US). I feel like I might see some % of my player account cash though. Too bad it's not enough to really be relevant.

There's not much we can really do about it though. I've mostly moved on, but I'm still clinging to some small hope that I'll get paid.

[pokerprop]

I'm offering a special this month:
1 copy of the tax code,
1 copy how to read the tax code guide
1 copy a guide on how to read the tax code guide.

The price is $19.00
However shipping by weight it will be $178.00 shipping for UPS ground.

For an additional $399.00 we'll send you a shotgun, ammo and 1 copy of "how to keep the tax collector off your land".

[CodeRed]

(anyone know if you can claim bad debt as a loss on taxes and if I should bother because it is poker in the US)

You can't until you're 100% certain you wont get ANY money back. Can't even write off the AP/UB stuff yet because you'll still likely get a fraction of that back. Once you are certain of the amount you get back then you can write off the rest.

[Mike]

You can't until you're 100% certain you wont get ANY money back. Can't even write off the AP/UB stuff yet because you'll still likely get a fraction of that back. Once you are certain of the amount you get back then you can write off the rest.

Wrong. You cannot write any of the money earned (profit) if the sites fail to pay. You can only write off the cost of what it took to earn that money. Trikkur said the phrase "bad debt", which is tax deductible. This is not bad debt, though.

Copied right from the tax code:

"To deduct a bad debt, you must have previously included the amount in your income or loaned out your cash."

Sorry to be the bearer of bad news. I'm owed enough that I consulted a CPA and a tax attorney.

xttp://www.irs.gov/taxtopics/tc453.html
xttp://www.irs.gov/publications/p535/ch10.html#en_US_2010_publink1000154188