🎲IRS Seeks Comments on Form 5754 for Gambling Winnings Reporting
Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request for Form 5754.
Summary
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the 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. Currently, the IRS is soliciting comments concerning Form 5754, Statement by Person(s) Receiving Gambling Winnings.
Agencies
- Treasury Department
- Internal Revenue Service
Business Impact
$$ - Med
The document involves the Internal Revenue Service's (IRS) request for public comment on Form 5754 related to gambling winnings, which has compliance implications for businesses processing such payments. Stakeholders (businesses and individuals) are invited to comment on procedural efficiency and burden, indicating active engagement required for compliance.