Form P 1 is commonly used to report the total wager and payout amount for casino type gaming activities. This form is also used to report winnings and losses from pari-mutuel betting, bingo, raffles, slot machines, keno, and other games of chance. In order to complete Form P 1 accurately, you will need to know the following information: establishment name and address, taxpayer identification number (TIN), type of gaming activity, date of activity, amount wagered or bet, payout amount, and winnings or losses. Keep in mind that some states have specific requirements when it comes to reporting gambling income and losses; so be sure to check with your state's tax agency for more information.
This basic report will aid you to find out the time it'll require you to fill out form p 1, how many pages it's got, and a handful of additional specific specifics of the PDF.
|Form Name||Form P 1|
|Form Length||1 pages|
|Avg. time to fill out||15 sec|
|Other names||form p 1 pdf, how to form p 1, form p 1, payor not payee|
Reasonable Cause Affidavit by Payor
For Not Obtaining Payee’s Identifying Number
Employer’s/Payor’s name and address
Employer identification number
I _______________________________, being an officer of _____________________________________,
hereby state that I have asked for the identifying number of the employee/payee,
_____________________________________ who has declined to provide an identifying number. I am filing
this affidavit in accordance with 26 USC 6724, waiver of penalty (26 USC 6724(a)) assessed under the code upon a showing of reasonable cause, and Treasury Regulation
I certify that the information stated here is correct and that I asked the employee/payee for a taxpayer ID number (Social security number) and that the employee/payee declined to provide such number.
Type or print employee/payee first name and initial
Social security number (write “None” if you do not have a SSN or “Declined” if you do not wish to provide a SSN)
Home address (number and street or rural route)
City or town, State and ZIP code
I ____________________________________ have
declined to provide an identifying number to my employer/payor, __________________________.
I certify that the information stated here is correct and the employer/payor did ask me for a taxpayer ID number (social security number) and that I declined to provide such number.
26 USC §6724, waiver of penalty (26 USC §6724(a)) assessed under the code upon a showing of reasonable cause, and Treasury Regulation
does not know the SSN of the other person, and has complied with the request provision of this paragraph, he shall sign an affidavit on the transmittal document forwarding such returns, statements, or other documents to the Internal Revenue Service so stating. A payor is required to request the identifying number of the payee. If after such request has been made, the payee does not furnish the payor with an identifying number, the penalty ($50.00) will not be assessed against the payor, if it is shown that such failure is due to reasonable cause and not willful neglect. [See also 26 USC §6724, waiver of penalty (26 USC §6724(a)) assessed under the code upon a showing of reasonable cause.]