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#1
04-22-2015, 05:10 AM
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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.
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All ambitions are lawful except those which climb upward on the miseries or credulities of mankind. ~ Joseph Conrad A long habit of not thinking a thing wrong, gives it a superficial appearance of being right. ~ Thomas Paine Don't let anyone tell you that your dreams can't come true. They are only afraid that theirs won't and yours will. ~ Robert Evans 
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#2
04-22-2015, 05:23 AM
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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
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#3
04-22-2015, 06:00 AM
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I signed it after adding a line near the beginning to personalize it. Wanted them to know I'd actually read it.
--Dunbar
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Curlin and Hard Spun finish 1,2 in the 2007 BC Classic, demonstrating how competing in all three Triple Crown races ruins a horse for the rest of the year...see avatar photo from REUTERS/Lucas Jackson
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#5
04-22-2015, 06:41 AM
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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.
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A racehorse is an animal that can take several thousand people for a ride at the same time. ~Author Unknown
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