The IRS on Friday released Rev. Proc. 2007-57, 2007-36 I.R.B. ___ (9/4/07), which established new rules for the withholding and information reporting requirements for poker tournament winnings, effective March 4, 2008.  The procedure addressed situations where a poker tournament sponsor charges an entry fee and a "buy-in" fee for each participant, and pays amounts exceeding a participant’s fees by at least $5,000 to tournament winners. The IRS explained that a poker tournament sponsor is required to withhold and report on payments of more than $5,000 made to a winning payee by filing an information return as prescribed in § 3402(q).