The IRS has clarified the poker tax rule. The IRS has said that starting on March 4, 2008 casinos and any others sponsoring poker tournaments must report the winnings to the winners and the IRS. The clarification was designed to clear up any confusion there was about the tax-reporting rules that apply to poker tournaments.
The IRS is requiring that all tournament sponsors report tournament winnings of more than $5,000, usually on a W-2G, Certain Gambling Winnings. The tournament sponsors who obey with this reporting requirement will not have to withhold federal income tax at the end of the tournament. If a tournament sponsor doesn
