Only Three Months of Tax Free Poker Left

The IRS recently cleared up some rules that had left poker players and tournament organizers scratching their heads. Previously it had been unclear whether poker winnings, especially the large pots that are awarded in tournaments, were reportable.

Now it’s clear - beginning March 4, 2008, the IRS will require all tournament sponsors to report tournament winnings of more than $5,000.

So, that means you have just over three months to rake in the winnings before they will be reported. Good luck!