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Requesting a Payout From DOJ? Think Closely

1 November 2011, By: Pokerjunkie.com
A deal has reportedly been reached between the Bernard Tapie Group and the DOJ to further the sale of Full Tilt Poker. But even if US players will soon be able to request a payout from the DOJ, should they?
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A deal has reportedly been reached between the Bernard Tapie Group and the DOJ to further the sale of Full Tilt Poker.

But even if US players will soon be able to request a payout from the DOJ, should they?

Some have now questioned whether players will actually step forward to claim their money from the DOJ.

Others wonder if it's a wise idea to deal with the DOJ when it comes to getting money back at all.

Poker Junkie blogger compncards says the answer is the same as the answer to most poker strategy questions: It depends.

DOJ Probably Won't Sweat the Small Stuff

For those of you with a few hundred or a few thousand on Full Tilt Poker and wondering whether you will face any backlash from the DOJ, chances are you won't.

The DOJ is just like most other government and law enforcement agencies.

Many times they will focus on the big players in a major scandal or scam and not on those that participated in the scheme.

Also, remember that the UIGEA primarily deals with the bank processing of funds and doesn't have any language in it addressing the individual player.

It's a simple matter of cost vs. benefit. Most of you aren't going to be worth the time (no offense) and the expense it would incur to check into your records, audit you, etc.

Personally, I have a few hundred left and my dad has less than $100 left on the site.

I'll file my claim.

Didn't Pay Your Taxes and Have a Decent Amount Stuck? Think Twice

Now, those players that have a decent amount of money stuck on Full Tilt and skirted around paying taxes as on online poker player may have another issue altogether.

You can assume that the DOJ will have full records regarding player histories and transaction histories available and at its disposal.

If you have at least $10,000 or more on there and haven't paid taxes on your winnings, don't be shocked if you magically get an IRS audit.

If you haven't paid taxes on your money, or haven't filed in a while, consult a tax attorney or accountant before getting your money from Full Tilt.

My personal recommendation would be to pay those taxes asap.

For the majority of you out there waiting for your money, you will not have problems with requesting your money from the DOJ.

It already has its pound of flesh from Full Tilt and isn't likely to sweat over your $100.

For those that have $50,000 or more, I would make sure everything has been taken care of regarding taxes before requesting the money.

If you're already giving the government its cut, you should be fine.

Obviously keep records, and if you don't know what I mean by that, hire someone that does.

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