SUPPORT: Tax Withholding Comment Period Opens..
 

The campaign to support the change in the winnings withholding has started.. Follow the link to the NTRA's form letter that will go to Treasury & IRS.

http://www.ntra.com/en/legislative/t...modernization/

The U.S. Treasury and Internal Revenue Service have requested comments from interested parties regarding proposed updates to regulations for withholding and reporting of winning pari-mutuel wagers that could have a positive impact on horseplayers and all segments of the horse industry. The current withholding and reporting regulations need to be modernized to accurately and fairly reflect the realities of wagering today. Such an update would not only increase wagering revenue for horseplayers, racetracks and horsemen but also generate new tax revenue for government.

I signed and shared yesterday. The current tax policy is a total joke in regard to this issue. It has no concept of the game simply a blanket rule from people who have never seen a damn racetrack

I signed it after adding a line near the beginning to personalize it. Wanted them to know I'd actually read it.

--Dunbar

Signed. Thanks for the heads up. Hope it gains momentum.

Reforming this and working on the takeout percentages at the individual tracks are 2 moves that would significantly help the betting public. Glad to participate.

Thanks for posting it. Signed and sent.