05/20/2015 11:56AM

NTRA urges horseplayers to comment on tax proposal


The National Thoroughbred Racing Association is coordinating with account-wagering companies and racing organizations with large mailing lists to drum up support for proposed changes to tax laws affecting withholding on pari-mutuel winnings, NTRA officials said Wednesday.

The campaign to urge organizations to contact their members is being ramped up at a time when there is a little less than two weeks remaining in a public-comment period on the proposed changes. The Internal Revenue Service and U.S. Department of the Treasury posted the proposals earlier this year, with the public-comment period remaining open until June 2.

An NTRA official said on Wednesday that approximately 3,000 people have submitted comments through a form on the NTRA website, but Treasury officials have recently told the organization that more comments are needed if the changes are to be seriously considered.

:: Submit your comments to the U.S. Treasury

The NTRA has an internal goal of 10,000 submissions, according to the organization’s chief operating officer, Keith Chamblin, and it has lately secured pledges from all the major account-wagering companies and several large racing organizations like the National Horsemen’s Benevolent and Protective Association to distribute alerts to their mailing lists about the importance of submitting comments, Chamblin said.

The proposed changes would reduce the number of bets that trigger IRS notifications and automatic withholding by using the total amount bet into a pool by an individual, rather than the base denomination of the bet.

Jack Kamis More than 1 year ago
The IRS is double taxing us, they take money out of the pool and out of the winnings. That's just simply unacceptable. It's about time somebody works on some king of tax relief for us.
Sandy Fritzinger More than 1 year ago
I have always thought it was unfair that horse racing bets have a different amount that is taxable versus slot machines. So unfair. I can't believe it has gone on for so long.
jtim11 More than 1 year ago
For people who foolishly don't take a few minutes and reply,due to outdated and uninformed tax rules on winnings,the government will continue to get your tangible dollars that would have remained in your pocket ,at the betting window and come every tax season in april. You can fill out the form in the time it takes to run a 6 furlong in the slop at Saratoga...
Joel Firsching More than 1 year ago
Do we have to pay a fee, to comment ?
Chris Vignoe More than 1 year ago
Joel Firsching More than 1 year ago
Now thats what i call a FREEdom of speech.
Cliff Amyotte More than 1 year ago
not yet but maybe soon