** WSOP ME, $10,000 NLHE, Day 5, Sat., July 14 **

[pknight212]

http://forumserver.twoplustwo.com/showfl...rue#Post6862105

i think i like him

[adanthar]

he's like that but not a bad guy. also I taught him a couple of important things at PCA so if he wins now I take part credit [img]/images/graemlins/smile.gif[/img]

[Rottersod]

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http://www.pocketfives.com/42A297D2-...BD5F46495.aspx

Scott "SCTrojans" Freeman recently accomplished something that is being dubbed by some as the greatest feat in online poker tournament history. At the age of 21, Scott became the first player ever to capture THREE Triple Crowns in one month. The P5’s Triple Crown requires that a player win three $10k prize pool or above tournaments on different sites within one week. "SCTrojans" plans on a poker-filled summer, as he decided whether to return for his senior year as a Business student at the University of Southern California.

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It's too bad Maria and Freeman didn't make the FT together cuz then we'd have had a Ho playing with a Trojan.

[dsapery]

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When Maria Ho busted, needless to say she was disappointed. To add insult to injury, Kevin Farry's supporters are 2 deep on the rail and are extremely intoxicated. When the river card fell, they screamed *very* loudly and leant all the way over the ropes to high five Farry. The rail is very close to the table and Farry is in the 5 seat, however Maria is in the 4 seat and was unable to stand up due to the arms hanging over her head holding her captive.

Scenes of joyous celebration are nothing new in poker, however what we just witnessed showed a total disregard for the player whose tournament life has just come to an end, and a complete lack of respect for the great game we all love.

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Farry must die.

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Let me start this by saying that I'm not at the Rio and I didn't witness the incident with my own eyes.

But I have been told that it was actually the media themselves who blocked Maria's exit from the table, and that they were covering their own a**es by putting the blame on Farry's sweat team.

[DrewDevil]

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If the day concludes at 36 players, and they chop, they'd get $1,051,834.41 each. Unless a couple of players have massive chip stacks, how can they not chop at that point?

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Here's a critical reason why they won't chop.

Harrah's will require that the tournament be played out to the end. Whoever actually wins the tournament and receives the bracelet will also get a W2-G tax form for $8,500,000. That person will be liable for nearly $3,000,000 in taxes to the U.S. federal government.

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This can't possibly be true. Can you source this?

[dsapery]

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If the day concludes at 36 players, and they chop, they'd get $1,051,834.41 each. Unless a couple of players have massive chip stacks, how can they not chop at that point?

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Here's a critical reason why they won't chop.

Harrah's will require that the tournament be played out to the end. Whoever actually wins the tournament and receives the bracelet will also get a W2-G tax form for $8,500,000. That person will be liable for nearly $3,000,000 in taxes to the U.S. federal government.

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This can't possibly be true. Can you source this?

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The winners can tell Harrah's to whom to make out the check or checks. The people on the checks will receive 1099's individually.

This info came out last year with the whole Jamie Gold debacle. If Harrah's paid JG the entire $12mil and then JG paid half of it to his "partner" then that half would have been taxed twice.

I've also been told that once they get to the final table, it's quite common for the players to agree to chop the money, and to just play out for the bracelet. Harrahs's (and ESPN) will require them to play it out for the title and the bracelet. Any behind-the-scenes chop is kept out of the public eye.

Rumors are that Moneymaker and Farha chopped the cash.

[DrewDevil]

Understand that, but I disbelieve the statement about the winner being taxed for the entire 1st place monies even if he agreed to the chop. I'm almost certain the IRS would only be allowed to tax the monies actually paid to each participant.

[Temp Hutter]

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Understand that, but I disbelieve the statement about the winner being taxed for the entire 1st place monies even if he agreed to the chop. I'm almost certain the IRS would only be allowed to tax the monies actually paid to each participant.

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That is correct. You only have to pay taxes on what you actually won regardless of the 1099 or W-2G. The incorrect paperwork just creates a hassle, but not a tax liability.

[FionnMac]

post deleted by FionnMac