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IRS Seizes Jerry Yang's 2007 Main Event Bracelet

Government Claims 'Taxpayer' Didn't Fulfill Tax Obligations

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The Internal Revenue Service has seized the 2007 main event bracelet of champion Jerry Yang, along with other jewelry. The items will be auctioned off to the public.

The property is as follows: "Corum bracelet and Corum watch won at the 2007 World Series of Poker main event; Corum ladies watch; Wittnauer watches; Movado watches; Rockwell Timekeeper; Raymond Weil watch; Gold herring- bone necklace and bracelet; White gold bracelet with blue sapphires and diamonds; bracelet with ‘Mom’ inscription; 14K man’s gold bracelet with ‘WSOP Champ;’ Man’s gold necklace with an “A’s of Hearts” pendent with white embedded diamonds (10K); silver breast plate ‘Hmong’ cultural jewelry."

Yang, whose named was not mentioned in the IRS posting, currently owns and operates Pocket 8’s Sushi And Grill in Merced, California.

Yang outlasted 6,358 players in the main event to take home $8.25 million. He has cashed for about $150,000 in tournaments since then.

For details on the property, check out the IRS posting. Below is a clip of Yang’s victory.

 
 
Tags: Jerry Yang,   WSOP
 
 

Comments

Kyle2
8 years ago

Most people don't know how to properly handle money when they suddenly receive a lump sum. This happens with lottery winners constantly. I get the other on the list, but this doesn't represent poker badly. There should be a financial planner to help poker players balance their assets.

 
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Wolfed
8 years ago

There are many of them. Yang chose not to report his winnings and pay taxes on them. His choice. It represents poker terribly, branding even our biggest winners as tax reprobates, at the very least. Of course most people don't know how to handle sudden lump sums. But intelligent people know that, and get the proper help. Yang didn't.

 
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Wolfed
8 years ago

And if you look at the 'Encumbrance' you'll notive that he has two leins for unpaid taxes from two prior years: one in 2004, one in 2005, so this is apparently a habitual problem, and one that he could have easily solved with his 2007 windfall. Not trying to pile on the guy, everybody makes mistakes, but,,,geez...just sayin...

 
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Shawn7
8 years ago

It is tougher than people realize, More Money More Problems!!!

 
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fastmonkey
8 years ago

How much is that thing worth anyways?

 
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