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  • Forced Cashout!

    zzz
    Last edited by nrogm; Tue May 31, 2011, 06:04 AM.

  • #2
    Sad day, just cashed out my balance... but no mention of what they will do with my 300 or Fpp's....

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    • #3
      FPPs

      Originally posted by roomik17 View Post
      Sad day, just cashed out my balance... but no mention of what they will do with my 300 or Fpp's....
      thread on 2+2 talks about PS and the DOJ making arrangements for the FPPs in NVG. Not sure if we can get them once we cash out, but I cashed out anyway. I had about 340 or so, and I think I saw something about getting about .01 cents for each FPP.

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      • #4
        Excuse my ignorance...what is NVG?

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        • #5
          Only made $40. Is it even worth cashing out?
          I am completely ignorant in regards to taxes, etc.
          Any insight?

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          • #6
            Originally posted by Roots Levi View Post
            Only made $40. Is it even worth cashing out?
            I am completely ignorant in regards to taxes, etc.
            Any insight?

            Sure every dollar is worth it!!! Why would you let them keep it???

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            • #7
              I have about 5600 Fpp and $0.76 in cash. I also have 4 tickets totaling $71 in buy ins for SCOOP tournaments that I have not heard jack crap about.. Wait and see what happens is all I can do.

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              • #8
                Here is the reply I received in response to my inquiry about FPP balances.

                Hello,

                Thank you for contacting PokerStars.

                In light of recent developments, PokerStars is no longer offering
                real money play to US residents, or residents of US territories.

                The PokerStars Cashier is now available for you to cash out the
                funds in your real money account balance, which was the number one
                priority for PokerStars.

                PokerStars is currently working with the US government to achieve
                an agreement on what can be done with FPPs. PokerStars would prefer
                that players be allowed to use their FPPs in the VIP Store as normal,
                however no final decision has been agreed.

                Rest assured, should you choose to await any decision prior to
                cashing out, your real money balance is completely safe.

                We apologize for the inconvenience and appreciate your patience.

                Regards,

                Vielka
                PokerStars Support Team

                Comment


                • #9
                  You will receive cash for your scoop tickets..........I had won a $215 ticket, a $33, and an $11. I have withdrawn my balance.................bye bye poker stars.............hello merge and bodog.

                  Comment


                  • #10
                    Originally posted by Roots Levi View Post
                    Only made $40. Is it even worth cashing out?
                    I am completely ignorant in regards to taxes, etc.
                    Any insight?
                    Roots Levi, did you make $40 profit? Or is that less than what you put in? If it's less than what you put in, you shouldn't have any tax worries. If you made $40 in profit, there is a line on your income tax refund for gambling winnings. Just put $40 on it next year and you'll be able to sleep soundly knowing you paid your fair share of taxes.

                    I wonder if anybody in the Treasury Department has bothered to figure out how much more tax dollars the U.S. gets each year from honest poker players declaring their on-line gambling winnings on their tax forms? I'm guessing it is a significant amount of money that the government just shut off the valve for.

                    Dopes.

                    I have more than 4,000 FPPs and I had $55 in bonuses that I had qualified for that I hadn't cashed out yet! I was saving those in reserve for in case I ever got all the way wiped out. Sure wish I had gone ahead and bought those bonuses.

                    Comment


                    • #11
                      Originally posted by teepack View Post
                      Roots Levi, did you make $40 profit? Or is that less than what you put in? If it's less than what you put in, you shouldn't have any tax worries. If you made $40 in profit, there is a line on your income tax refund for gambling winnings. Just put $40 on it next year and you'll be able to sleep soundly knowing you paid your fair share of taxes.
                      Thanks for the reply teepack. Yes, it is $40profit-started BR from 0. Never had an official job though and never had to do my own taxes. Do i still have to worry about reporting this? or can i just direct cash out to my bank account?

                      Comment


                      • #12
                        NVG

                        Originally posted by !!!111Dan View Post
                        Excuse my ignorance...what is NVG?
                        Sorry, Dan - should have been more specific. It is in the General Poker Discussion section on the News, Views, and Gossip Forum, thread is called "New cashout option available to me on Stars".

                        Comment


                        • #13
                          I'M NOT CASHING OUT YET IF I DO I CANT CHAT ON MONEY TABLES

                          GO LAKERS

                          sometimes i laugh so hard tears run down my leg

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                          • #14
                            Originally posted by hemetdennis View Post
                            I'M NOT CASHING OUT YET IF I DO I CANT CHAT ON MONEY TABLES

                            GO LAKERS

                            Ducks , Kings , Lakers , who's next ? God help them

                            Comment


                            • #15
                              Originally posted by Roots Levi View Post
                              Thanks for the reply teepack. Yes, it is $40profit-started BR from 0. Never had an official job though and never had to do my own taxes. Do i still have to worry about reporting this? or can i just direct cash out to my bank account?
                              Roots, welcome to the forum first ...hopefully we'll have much reason to frequent this place in the very near future...don't start nay-sayers..i know. If you've never had a job ...then don't sweat it. Taxes aren't paid to the irs unless you make at least ...something like 9k in earnings in a year. So if you get a job this year and make the minimum, then you could report it. Look at irs website to see the actual minimum taxable earnings. But I think it's around 9K. You should be fine. umbup: ps. Thank you gjs.

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