A bill to amend the Internal Revenue Code of 1954 to simplify certain requirements regarding withholding and reporting at the source and to correct inequities regarding carryover of losses.

Summary

Amends the Internal Revenue Code to repeal the withholding tax requirements with respect to gambling winnings. Requires information returns for gambling winnings only for payments of $10,000 or more. Provides a three year carryover and carryback for net gambling losses.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 25 April 1983

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 25 April 1983

   Introduced

   Introduced in House

   Source: IntroReferral

3. 25 April 1983

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 25 April 1983

  Open at official source

Sponsors

• Rep. Vucanovich, Barbara F. [R-NV-2] · R · Sponsor
• Sen. Reid, Harry [D-NV] · D · Sponsor
• · hswm00 · Standing

Related records

No cross-record relationships stored yet.