Horse Racing News: Federal Bill Seeks Changes in Pari-Mutual Win Reporting

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Federal Bill Seeks Changes in Reporting of Parimutuel Winnings - A federal bill providing funding for the IRS and other agencies includes language asking federal tax authorities to consider changes to the taxing and reporting of parimutuel winnings that would be beneficial to horseplayers, according to the National Thoroughbred Racing Association, which has been lobbying for the changes.

"We are immensely grateful to the committee and its chairman, Rep. Hal Rogers, for including this language in the bill," said Alex Waldrop, chief executive of the NTRA. "Achieving fair and modern taxation of parimutuel winnings remains one of the NTRA's highest priorities, and this is another step in the right direction."