Matusow gets less than 50K from 670K win?

[ncpokeresq]

On the Pokerwire radio show Joe Stapleton said that the Mouth's creditors escorted him to the cage and Mike walked away with less than 50K. Supposedly FullTilt took a chunk, which given that FT sponsors the site, sounds reliable.
Anybody able to confirm?

[electrickshiite~]

I can confirm it sucks to be Matusow right now.

[Orlando Salazar]

vv true, but he's now in the black. They also took most of his HORSE and O8 winnings. GL Mikey.

[roaaahhh]

gl mr. mikey, he must feel great about wiping out 600k in debts and looking to stay in the black

[Admo]

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vv true, but he's now in the black.

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No, he still owes. Just not as much.

[75s]

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vv true, but he's now in the black.

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No, he still owes. Just not as much.

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Admo, I love your pics, but I heard Howard say gj mike, free and clear, how's it feel

[badatmath]

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vv true, but he's now in the black.

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No, he still owes. Just not as much.

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Admo, I love your pics, but I heard Howard say gj mike, free and clear, how's it feel

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This can only mean that Howard knew about all of Mike's debts and he was the last person Mike had to pay back.

[MICADOO]

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vv true, but he's now in the black.

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No, he still owes. Just not as much.

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Don't forget about the IRS take is going to be more than $50k ont that $650k, lol No wonder Mikey was crying on Phil's shoulder after he lost the final hand, all for nothing. He needed 1st to get close to even, from what he has said on his show before.

[Arnold_O]

[ QUOTE ]
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vv true, but he's now in the black.

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No, he still owes. Just not as much.

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Don't forget about the IRS take is going to be more than $50k ont that $650k, lol No wonder Mikey was crying on Phil's shoulder after he lost the final hand, all for nothing. He needed 1st to get close to even, from what he has said on his show before.

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what ru stupid? big brother strong arms you for at least 38% (marginal). more if from california. i see you getting a lot of love at neverwinpoker.

[pete fabrizio]

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Don't forget about the IRS take is going to be more than $50k on that $650k, lol

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This isn't how the tax code works. Assuming the $600k was some combination of backer share and gambling debt, he will probably only have to pay taxes on the $50k he keeps.