Winning at Poker? IRS Wants to Know

Think you could beat those people who play in the high-stakes poker tournaments that seem to be on TV all the time? If you can, the IRS wants to know about it. The agency announced Friday that starting next March, it will require poker tournament sponsors to report any winnings of more than $5,000. If they do, they won't need to withhold taxes from players' winnings. If they don't, they'll have to pay any tax that should have been withheld if withholding were required.