The rumors had merit … there will be no automatic 25 percent withholding on all poker tournament wins over $5,000. The headlines give a little indication on where different operations stand on tournament winners and their ethical obligations to pay the federal government its juice:
CardPlayer: \”Tax Law Stopped\”
PokerListings: \”Tax Code Clarified\”
4Flush: \”Still Being Worked on\”
PokerNews: \”Tax Proposal Nixed\”
I. Nelson Rose: \”IRS Has Changed the Law\”