I probably won't have a tax video this year as there have been few changes in the Tax Code. The one lingering issue relates to how to deal with funds at Full Tilt and Ultimate Bet/Absolute Poker that are stuck in limbo. I wrote about this on my tax blog.
In general, if you didn't have a cash out prior to Black Friday (in 2011) from FTP or UB/AP, you're not going to have income; if you did, you're going to have some. Your exact treatment will depend on your
facts and circumstances.
I've been asked if you can take a casualty loss for 2011. That requires certainty
which does not yet exist. This might happen for 2012 but not yet.