2010 World Series of Poker Final Table: Michael Mizrachi Tax Issue Hot Topic

During a conference call related to the upcoming 2010 World Series of Poker Final Table and changes that will be implemented, one of the hot button topics was none other than finalist Michael Mizrachi’s lingering tax issues.

From Pokerati.com:

(Michael) Mizrachi is on a lot of poker media member’s minds: including his tax issues. ESPN noted that while they are talking about it, but its not a big part and they are dealing with the “Year of the Mizrachis” angle, at least they had been until the final table.

Surely the IRS will be monitoring this year’s WSOP final table rather closely.  Mizrachi will walk away with a minimum of $1 million and could stand to win several million with a first place finish.

Mizrachi enjoyed a string of successful big wins leading up to the final including a $1.5 million win at the WSOP Players Championship and over $100,000 in some other World Series of Poker events.  All totaled, Mizrachi cashed out at 4 events.

This happened just after local Florida media and Gambling911.com began reporting on Mizrachi’s foreclosure and tax woes.

The foreclosure, Mizrachi claims, comes after his bank refused to negotiate a new financing deal following the downswing in the South Florida real estate market.

More detrimental to Mr. Mizrachi was the looming tax delinquency:  $340,000.

“Sometimes you get into a hole, and you can't dig yourself out of it,” he said at the time.

By the looks of things, Mizrachi appears to have dug himself out of the hole pretty quickly.

- Jagajeet Chiba, Gambling911.com