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New Regular and Backup Withholding Rates for 2018 Form W2-G

If you downloaded the 2018 Instructions for Forms W-2G and 5754 before January 27, 2018, please note the following changes effective for reportable gambling winnings for a winning event that occurs after December 31, 2017.

Effective for taxable years beginning after December 31, 2017, the withholding rate under Section 3402(g) applicable to winnings of $5,000 or more from sweepstakes, wagering pools, certain parimutuel pools, jai alai, and lotteries (formerly 25%) is now 24%. This change affects the rate listed in the Withholding, Regular Gambling Withholding for Certain Games, Noncash payments, and Backup Withholding sections under Specific Instructions for Form W-2G; the Withholding section under 1. Horse Racing, Dog Racing, Jai Alai, and Other Wagering Transactions Not Discussed Later; the Withholding section under 2. Sweepstakes, Wagering Pools, and Lotteries; and the Withholding and Forms W-2G for Multiple Winners section under Specific Instructions for Form 5754. For more information, see P.L. 115-97, Title I, Subtitle A, Part I, sec. 11001(a).

Effective for taxable years beginning after December 31, 2017, the backup withholding rate under Section 3406 applicable to certain winnings where the winner doesn't furnish a correct taxpayer identification number (TIN) (formerly 28%) is now 24%. This change affects the rate listed in the Withholding, Regular Gambling Withholding for Certain Games and Backup Withholding sections under Specific Instructions for Form W-2G; the Withholding section under 1. Horse Racing, Dog Racing, Jai Alai, and Other Wagering Transactions Not Discussed Later; and the Withholding section under 2. Sweepstakes, Wagering Pools, and Lotteries. For more information, see P.L. 115-97, Title I, Subtitle A, Part I, sec. 11001(a).