after e-mailing deno,he answered with this~~ dear mr. friend, we have the checks you will get paid as you did with the north american tour, in a few weeks. we have to go over the tax forms and make sure everything seems to be in order. i e-mailed him back, saying, "everyone was paid right there in vegas no one waited three weeks for their checks" and to please give me an actual date when the check will go out. will it be by october? how about march of 2007?" what is everyone's take on this? keep in mind we wer'e all paid at the north american open. strange isn't it?
new news on the checks~~~~~~
- Thread starter 8-ball bernie
- Start date
8-ball bernie said:
lol, so they told everyone they were going out this week after putting them off for the two weeks prior and now they are saying they need to make sure the tax forms are in order. If you guys think you are getting that money then you are crazy. It sounds like they are giving everyone the run around for as long as possible because the funds allocated for the IPT are dry and KT is heading for the hills with a sure fire loophole covering his ass and assets.
8-ball bernie said:
I thought nobody got paid because of the checkbook not arriving on a Sat delivery in Reno. lol Now it's tax forms. double lol. Someone said they caught Deno on the cue chat line last week and asked him about the payouts. He said the checks were going out in a few days, that was two weeks ago. lol
WOW- This is the worst news yet. Looks like KY time for everyone but KT.
and BTW- WHy were the checks fedexed to Reno and the only reason they didnt get there and handed out is that someone forgot to check off Saturday delivery?
I hope Thorston really did get his.
Jake- Is this a really good sign that the IPT wants to stay on top of the Tax situation?
and BTW- WHy were the checks fedexed to Reno and the only reason they didnt get there and handed out is that someone forgot to check off Saturday delivery?
I hope Thorston really did get his.
Jake- Is this a really good sign that the IPT wants to stay on top of the Tax situation?
8-ball bernie said:
Bernie, good for you for posting this information, many would not have.
This is certainly not good news for anyone wanting to see a successful, respectable professional tour for the pool community, and especially for the players that are owed money.
I've said this before, but it's worth repeating, if this last IPT tournament was it's very last, then I don't believe that anyone will be paid. Right now, KT is calculating whether it is financially advantagous to make the payments or not. It is his, along with any of his financial investors, decision to make, and has nothing to do with the professional, honest people that simply work for him and the IPT. They have no option but to quit or follow his instructions and are not to blame. KT will make a financial decision without regard to anything or anyone else.
I'm sure that KT has his eye on the qualifyers, and their expected income.
Even if the players are eventually paid, I don't see how anyone with this knowledge can even consider entering one.
I certainly hope everyone gets what they are owed and deserve, especially KT. JMHO
8-ball bernie said:
Bernie, I feel badly for you and all the others. No matter what people have said or how badly they have talked about the pool players, nobody desreves this type of treatment. They obviously can't keep their stories straight and make fools of themselves every time they reply. You can bet though, there will be one more story yet, and it will be a whopper.
And the beat goes on
Marcus and Tang were here last night playing pool. Marcus said that yes, Thorsten did recently get his 350K check for winning Vegas. But that Marcus' 30K check (from the Vegas tourney) had not been sent yet. He was told that it would go out this week by someone at the IPT office.
He was not told when the Reno checks would go out. Only that it should be soon. I say good luck to all.
Marcus and Tang were here last night playing pool. Marcus said that yes, Thorsten did recently get his 350K check for winning Vegas. But that Marcus' 30K check (from the Vegas tourney) had not been sent yet. He was told that it would go out this week by someone at the IPT office.
He was not told when the Reno checks would go out. Only that it should be soon. I say good luck to all.
pooltchr said:
I will bet anyone that there is no IRS visit or any tax issue that isnt routine. The Year isnt even near over so what could be the issue? All he has to do is send out a 1099 by Feb 1st and withhold 30% from non citizens who havent provided a tax number. Paying Income taxes is the players responsibility. For him to be in some kind of tax trouble at this stage is pretty far out there.
Kt hasnt even had the opportuinty to claim the millions in losses or anything else yet that would get the IRS's attention and they do not respond fast either. They usually audit 2-3 years behind from what i know.
Anyway im no tax expert but i am not buying that excuse at all. Maybe Fedex is suing them-Ill buy that first.
Nostroke said:
Well now, would you want the IRS checking up on you? Look what happened to Al Capone. He went to the slammer because of tax problems.
Kay might be able to enlighten people on how nice the tax man can be.
But good news? Nope. Either the checks were ready after the tournament or they were not. If they were ready then they should have been mailed. If they were not, then one has to wonder why not?
Perhaps it can be as simple as KT really did sell the IPT and if he delays paying the players until after the sale is complete then he keeps the 5 million and it will be Ho's responsibility to pay the players.
But, without a doubt it is a delaying tactic. The only question is why? Surely no one really believes that it was just a slip up as the reason the players didn't receive their checks.
First the players will receive their checks on Sunday. Then they didn't arrive on time. Then they had to wait until the checks arrived in Chicago. Then they arrived in Chicago and will be shipped. Then they still have not been shipped because they have to withhold taxes. Now you will receive them in 3 weeks.
The carrot is out there and the players keep chasing it. Will they ever catch it? Will they catch it and find it to be rotten?
Are we having fun yet?
Jake
jjinfla said:
I wouldn't want to pull a $5 million hustle on a guy like Ho. I'd rather have the IRS on my tail.
Str8PoolMan said:
you got that right!
and everyone that was hoping that the IPT would make pool a respectable sport would surely be disappointed now that mr. ho is on board. don't mean to be disrespectful, but wasn't it argued before that the reason pool wasn't getting the attention it deserved is because of it's PERCEIVED gambling background?
corvette1340 said:
Hehehe, I wonder when (ok if) the checks arrives, what you people find for the next topic to smash IPT..
Maybe I should wait a bit, but I cannot help it. You guys really are sad.
PS.
I'm not saying that I'm completely satisfied with the way IPT handles these things (quite obvious actually), but I'm still easily forgiving all these things, as I've seen how big IPT is, how much they have to do in such a short time, and how many things can go wrong, even if it wouldn't be their own fault.
Kevin has admitted many times, that IPT is far from perfect, but they are doing hard work to get it better.
Kevin's ways of doing things, seems to be quite unique, and there is lots of questionable things, like this check delay. Still, I do believe that the checks are coming, and the reason why the IPT is not coming up with excuses and explanations more, is simply that Kevin doesn't care about the doubters enough (nor the player's feelings, as he feels he's being Santa Claus allready). I would care, but seemingly Kevin doesn't.
I'm sure he feels he has done the greatest accomplishment for pool in it's history (which he has), so if the players need to wait little bit - SO WHAT?
Let's take Bernie for an example, and hypotethical approach that Kevin is going to stand behind his words in large scale.
Bernie doesn't know how to play billiards, but was chosen because shameless application. Bernie can be called crook actually. Bernie will get 13000$ this year, even not coming even near of winning ONE GAME on the Tour. Now Bernie is complainig here, and actually complaining and giving hard times in the tournaments also.
If Kevin knows that the money will be paid, maybe he just doesn't bother to give excuses for the delays, cos he feels it's not worth it, and the IPT is doing HUGE favour for the game and the players anyway, even some delays and errors on the way.
Once more I state, that if I were a rich guy and I would be organizing similar tour, I would have higher moral in these kind of things, which would probably even surpass the critics of this forum.
Kevin is not me - and I try to understand him, instead of just judging.
PPS.
By the way, as you seem to be so sure that the IPT is failing and it is just a matter of time when the rest of the world will realize it, and they are now just taking the money from the dorks who are going to the qualifiers and there wont be checks send nor Chigago event to be held, why did they cancel London?
I got your number chump.
