Rev. December 2008
[Form 5754 (Rev. 12-2008)] This form is used by recipients of gambling winnings to provide necessary information to the payer for reporting taxable winnings. Recipients must complete Part I with their name, address, and taxpayer identification number. If winnings are from state-conducted lotteries, 'Other ID' may be left blank. The total amount received and federal income tax withheld are also required. For multiple winners sharing the winnings or receiving on behalf of someone else, Part II must be completed to identify each winner and their respective share of the winnings. Taxpayer identification numbers and amounts won should be provided for each recipient. The purpose of the form is to enable the payer to prepare Form W-2G for reporting taxable winnings to the Internal Revenue Service.
Form W-2G must be furnished to the recipient by January 31 following the year of payment. It must also be filed with the IRS by February 28 (or March 31 if filing electronically) for paper filers, or April 15 for electronic filers.
The payer needs the following information from the winner to complete Form W-2G: name, address, taxpayer identification number (TIN), and total amount of winnings. If backup withholding applies, the payer also needs a TIN from the winner and the withholding amount.
Payer who is responsible for reporting and withholding taxes on gambling winnings and certain other payments must file Form W-2G.
The person who is responsible for distributing the gambling winnings to the individual(s) receiving the winnings must file Form 5754.
Form 5754, Statement by Person(s) Receiving Gambling Winnings, is used to report winnings and withholding information when the person receiving the winnings isn't the actual winner or is a member of a group of two or more people sharing the winnings.
Form W-2G, Statement (s) of Person(s) Receiving Gambling Winnings and Certain Other Payments, is used by payers to report and withhold taxes on payments of winnings from gambling activities and other types of payments such as prizes and awards.
Form 5754 requires identification of the person receiving the winnings, name, address, and TIN of each winner, their respective share of the winnings, and additional winnings from identical wagers. If regular gambling withholding is required, Form 5754 must be signed and dated.
Form 5754 is one of Tax forms that are documents used to report information related to taxes to the relevant tax authority. There are various types of tax forms, including federal, state, and local tax forms, which can vary depending on the taxpayer's circumstances and location.
The easiest way to fill Form 5754 online
Delete filling session
Delete editing session
