IRS Issues Priority Guidance Plan; Targets Include Poker Tournaments
The IRS and the US Department of the Treasury issued their "Priority Guidance Plan". A total of 254 projects are mentioned. The ones that the IRS has highlighted are:
—Additional legal requirements for tax shelters;
—Guidance on how to report distributions from Roth IRAs;
—Guidance on impact of a 2.5 month grace period for flexible spending accounts on HSAs;
—Regulations under Section 529 regarding qualified tuition programs for higher education;
—How charities should report automobile donations they receive; and
—Legal requirements to withhold on the winner's prizes at poker tournaments
As part of my ongoing series on online gambling and taxes, I will include a piece on taxes and poker tournaments. That article will appear in a couple of weeks.
—Additional legal requirements for tax shelters;
—Guidance on how to report distributions from Roth IRAs;
—Guidance on impact of a 2.5 month grace period for flexible spending accounts on HSAs;
—Regulations under Section 529 regarding qualified tuition programs for higher education;
—How charities should report automobile donations they receive; and
—Legal requirements to withhold on the winner's prizes at poker tournaments
As part of my ongoing series on online gambling and taxes, I will include a piece on taxes and poker tournaments. That article will appear in a couple of weeks.
Posted by Russ on
Wednesday August 17, 2005 at 8:01pm