Card Player – On September 16, the Garden City Group is set to start the claims process for American players who have money stuck on Full Tilt Poker. Some players have even begun to receive emails detailing the payout process. As the date rapidly approaches, players are starting to wonder what impact claiming that money will have on their own personal taxes.
Russell Fox, an Enrolled Agent at Clayton Financial and Tax in Las Vegas, is an expert in the field of taxes for gamblers. He has many clients who gamble professionally and has been practicing in the field for over 25 years. He has a blog where he writes about all different kinds of tax information, at www.taxabletalk.com.
Fox sat down with Card Player to discuss the remission process and how that will impact people who will be claiming money.
