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Poker tournaments.
Rev. Proc. 2007-57 informs sponsors of poker tournaments, including casinos, that payments of winnings of more than
$5,000 are subject to the rules
for backup withholding and information reporting under section 3402(q) and its regulations for payments made on or after March
4, 2008.
In addition to these specific instructions, you should also use the 2008 General Instructions for Forms 1099, 1098, 5498, and W-2G. Those general instructions include information about the following topics.
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Backup withholding.
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Electronic reporting requirements.
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Penalties.
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When and where to file.
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Taxpayer identification numbers.
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Statements to recipients.
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Corrected and void returns.
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Other general topics.
You can get the general instructions from the IRS website at www.irs.gov or by calling 1-800-TAX-FORM (1-800-829-3676).
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