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Player Accounts Will Be Added For Playoff Prize $

Posted: Thu Jan 02, 2014 10:53 am
by Greg Ambrosius
CONGRATS to all of our winners in the NFFC playoff contests. There was a lot of money at stake in Weeks 14 through 16 and congratulations to everyone who walked away with prize money. That's a great way to start the New Year! :D

In the past, we've just sent out winning checks to all of our winners, but starting with these next payments we are going to put this prize money in your new Player Accounts and have you tell us what you want to do with it. As soon as these playoff winnings are finalized in the next week, you'll find a Player Account link under your HOME link and there you'll go in and tell us how you want to be paid. Everyone will have to do this to be paid for their playoff winnings.

This function will now allow you to tell us how you want to receive your winnings and how much of your winnings you want in cash. You can tell us to send via direct deposit or via check. You can tell us to send all of it immediately or tell us that you want to keep some or all of it on account for future contests. If you win $10,000 and want to keep $3,000 on account for future NFFC or NFBC signups, we'll do that. This new feature will now allow you to tell us exactly what you want to do with your winnings and we'll take care of that immediately.

Keeping your winnings on account for future signups is meant as a convenience to you. All of the winnings you've earned during the year will still be reported to the IRS whether you cash out or keep some on account. We'd love to play that game where the IRS doesn't tax your winnings until you cash out, but we've thoroughly looked at this and it's just not a legal process. We don't want to get anyone in trouble with the IRS, nor do we have any desire to be put in this position. This is earned income and thus must be reported in full at the end of the year. But if you still want to keep some of your winnings on account and pay for future contests, do so there and we'll send the rest the way you want it.

We'll send out numerous emails and newsletters in the next couple of weeks to everyone to make sure they understand this new process going forward. Again, you'll just have to go to your Player Account when this is live and claim your prize and tell us how you want to be paid. The Player Account will have all kinds of information on there as well, showing you past payments to us, past winnings and more. It will be a nice added feature for our players. Enjoy and again, CONGRATS to all of our winners.

Re: Player Accounts Will Be Added For Playoff Prize $

Posted: Sat Jan 04, 2014 2:07 pm
by rkulaski
Will our winnings from the nffc playoffs (week 14-16) be added to Player Accounts or will it start with nffc post-season teams?

Re: Player Accounts Will Be Added For Playoff Prize $

Posted: Sat Jan 04, 2014 2:09 pm
by Tom Kessenich
rkulaski wrote:Will our winnings from the nffc playoffs (week 14-16) be added to Player Accounts or will it start with nffc post-season teams?
The championship round winnings will be added. Look for that to be done next week.

Re: Player Accounts Will Be Added For Playoff Prize $

Posted: Wed Jan 08, 2014 1:56 pm
by edelman24
any update on when this will be done? thanks

Re: Player Accounts Will Be Added For Playoff Prize $

Posted: Thu Jan 09, 2014 2:51 pm
by Greg Ambrosius
edelman24 wrote:any update on when this will be done? thanks
The goal was to get the money in your Player Accounts this week. We'll have an update shortly. Once that money is there then you'll tell us how you want to be paid, if you want it all right now, if you want to keep any on account for baseball, football or anything else, etc. It's your winnings and we want to get this to you quickly after each sport concludes. The Player Accounts will also keep track of your winnings per year and have all of your financial information there so that you can also keep track of your spending/winning, etc.

Look for an update shortly.

Re: Player Accounts Will Be Added For Playoff Prize $

Posted: Fri Jan 10, 2014 3:24 pm
by ChiTwn
Greg Ambrosius wrote: Look for an update shortly.
So looks like this won't be happening this week.

Is there a new hard deadline for this or just a moving target?

Re: Player Accounts Will Be Added For Playoff Prize $

Posted: Mon Jan 13, 2014 10:51 am
by Coyote Streakers
Bump

Re: Player Accounts Will Be Added For Playoff Prize $

Posted: Mon Jan 13, 2014 11:33 am
by Greg Ambrosius
ChiTwn wrote:
Greg Ambrosius wrote: Look for an update shortly.
So looks like this won't be happening this week.

Is there a new hard deadline for this or just a moving target?
Damn these Player Accounts!! Sorry for the delay.

I should know more today. No doubt this week and hopefully early this week. Just making sure we have these Player Accounts working perfectly for everyone so that you have everything in your hands going forward. Sorry for the delay.

Re: Player Accounts Will Be Added For Playoff Prize $

Posted: Mon Jan 13, 2014 5:48 pm
by E2A
This maybe a classic example of if it isn't broke don't fix it. I think I liked it better when we just got paid.

Re: Player Accounts Will Be Added For Playoff Prize $

Posted: Mon Jan 13, 2014 7:32 pm
by Greg Ambrosius
E2A wrote:This maybe a classic example of if it isn't broke don't fix it. I think I liked it better when we just got paid.
That's exactly how it's working this time. Look for checks shortly.

The Player Accounts have some purpose and value, which you'll see once they are live. Just flopping them onto you before payments probably wasn't the best introduction to this new tool. Having it well in advance of payday for 2014 makes more sense. We'll discuss once these are live, but for right now just sit back and get ready for those direct deposits and checks. Oh, and take direct deposits if you can; it's a quicker and safer way to get paid.