19 Feb 2025
🎲IRS Requests Comments on Form W-2G for Gambling Winnings
Agency Information Collection Activities: Requesting Comments on Form W-2G
Summary
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning Form W-2G, Certain Gambling Winnings.
Agencies
- Treasury Department
- Internal Revenue Service
Business Impact
$$ - Med
The document discusses the IRS's request for public comments on Form W-2G, which impacts how gambling winnings are reported and taxed. Compliance with reporting requirements is crucial for businesses involved in gambling activities, making it directly relevant to owners and executives in that sector.