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Old 06-25-2007, 10:17 PM
vilemerchant vilemerchant is offline
Senior Member
 
Join Date: Jul 2004
Posts: 613
Default Re: SO WHEN CAN WE REQUEST OUR MONEY?

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I have a high level of trust because they are fomulating a plan with the U.S. Attorney's office to return money to US players. Federal prosecutors aren't going to be party to some big scam. Now if one hadn't payed taxes on a considerable sum they are to be receiving, then one should be worried.

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Why would you pay tax on money you've never received?

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Because in the eyes of the IRS, you did receive it. It was in your Neteller account.

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FWIW, even before it was ever in NETeller (i.e. when you earned it on Poker Stars or wherever), it was taxable income.

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They're not banks. You don't have any guarantee that you're actually going to see any of your online money until it arrives in your own bank account or shoots out of an ATM. Look at the amount of 'my FTP/Neteller/Bodog account got hacked etc' threads on here. Or 'you once transferred funds to a suspicious player so we've frozen your bankroll'.

I've never had any business with the IRS (thank god), but as far as I'm concerned money online is money 'in play'. It'd be crazy to pay tax on 100K without any guarantee you'll ever see a dime.
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