HR 4592 · 97th Congress · Taxation
A bill to amend the Internal Revenue Code of 1954 to eliminate the withholding requirements with respect to gambling winnings, to provide that information returns with respect to gambling winnings shall be required only in cases of payments of 10,000 or more, and to allow a 3-year carryover of net gambling losses.
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Subcommittee Hearings Held.(1982-03-16)
Plain Language Summary
[AI summary unavailable — showing source text]
Amends the Internal Revenue Code to repeal the withholding tax requirements with respect to gambling winnings. Requires information returns for gambling winnings for payment of $10,000 or more. Provides a three year carryover and carryback for net gambling losses.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (4)
3 Democrats1 Republican