When is Form W-2G due?

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.

What information is needed to prepare Form W-2G?

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.

Who is required to file Form W-2G?

Payer who is responsible for reporting and withholding taxes on gambling winnings and certain other payments must file Form W-2G.

Who must file Form 5754?

The person who is responsible for distributing the gambling winnings to the individual(s) receiving the winnings must file Form 5754.

What is Form 5754 used for?

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.

What is Form W-2G used for?

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.

What information is needed to complete Form 5754?

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 W-2G

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Certain Gambling Winnings

Rev. December 2023

Form W-2G instructions explain how to complete the form for reporting certain gambling winnings, including types of winnings subject to withholding and federal income tax rates.

Instructions

Instructions for Forms 1096, 1097, 1098, 1099, 3921, 3922, 5498, and W-2G - General Instructions for Certain Information Returns, (Forms 1096, 1097, 1098, 1099, 3921, 3922, 5498, and W-2G)
Instructions for Forms W-2G and 5754 - Instructions for Forms W-2G and 5754, Certain Gambling Winnings and Statement by Person(s) Receiving Gambling Winnings

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FAQ

When is Form W-2G due?
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.
What information is needed to prepare Form W-2G?
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.
Who is required to file Form W-2G?
Payer who is responsible for reporting and withholding taxes on gambling winnings and certain other payments must file Form W-2G.
Who must file Form 5754?
The person who is responsible for distributing the gambling winnings to the individual(s) receiving the winnings must file Form 5754.
What is Form 5754 used for?
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.
What is Form W-2G used for?
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.
What information is needed to complete Form 5754?
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.

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Federal tax forms

Form W-2G is one of Federal tax forms that are documents used to report and file federal income taxes with the Internal Revenue Service (IRS) in the United States. These forms are used by individuals, businesses, and organizations to report their income, deductions, and other relevant information necessary for calculating their federal tax liability.

The most commonly used federal tax form is the Form 1040, which is used by individual taxpayers to report their personal income tax. Other commonly used forms include the Form 1065 for partnerships, Form 1120 for corporations, and Form 990 for tax-exempt organizations.

Federal tax forms typically require taxpayers to report various sources of income, such as wages, salaries, and tips, as well as income from investments, rental properties, and other sources. The forms also allow taxpayers to claim deductions and credits for various expenses, such as charitable contributions, mortgage interest, and healthcare expenses.

It is important to file federal tax forms accurately and on time, as failure to do so can result in penalties and interest charges from the IRS.

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