Poker Tournament Winnings Must be Reported to the IRS
Starting next year, casinos and other sponsors of poker tournaments will be required to report most winnings to winners and the Internal Revenue Service, according to the IRS.
Related Poker News:
- New IRS Regulations for Poker Tournaments
- 25% Withholding Tax Proposal on Poker Tournament Winnings Nixed
- Poker winnings to be reported to IRS
- Bond set for 3 held in robbery of Wellington pair’s $24,000 poker winnings
- Physician’s poker winnings benefits needy for Christmas
- Woman robbed of poker winnings at apartment complex
- Arrests made in robbery of $25,000 poker winnings from Wellington teens
- 2 more suspects sought in robbery of Wellington pair’s $24,000 poker winnings
- Tax Law Demands a Quarter of Poker Winnings
- 2006 WSOP Winner Can Collect Half of Winnings
- Poker winnings to help toward Darfur, Parkinsons Disease, Katrina
- Poker Winnings Must Be Reported to IRS
Useful poker terms:
- FOURTH STREET - In stud poker, the fourth card dealt to each player. Sometimes used to refer to the fourth community card dealt in Hold'em, although the more common term for this is TURN (q.v.).
- MARKED CARDS - Cards that have been (illegally) altered so that their value can be read from the back.
- LOOSE - Playing more hands than the norm. Antonym: TIGHT.
- LATE POSITION - For a particular betting round, a player who does not have to act until most of the other players have acted.
- BUTTON - A distinctive token held by the player sitting in the theoretical dealer's position, when a house dealer is used. The button rotates around the table so that every player has an opportunity to be the last to act. Also, "THE BUTTON" can refer to the player who currently has the button. ("I was the button and called the blind".) Synonyms: BUCK, PUCK.
- WORLD SERIES OF POKER - A series of several different poker games with relatively large buy-ins, culminating in a $10,000 buy-in no-limit Hold'em tournament, the winner of which is crowned the World Poker Champion. Sponsored by Binion's Horseshoe Club in Las Vegas.
RSS feed
