Form P 1 PDF Details

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.

QuestionAnswer
Form NameForm P 1
Form Length1 pages
Fillable?No
Fillable fields0
Avg. time to fill out15 sec
Other namesform p 1 pdf, how to form p 1, form p 1, payor not payee

Form Preview Example

Form P-1

Reasonable Cause Affidavit by Payor

For Not Obtaining Payee’s Identifying Number

uRelease From Penalty26 U.S.C. §6724(a)

Employer’s/Payor’s name and address

Employer identification number

Employer/Payor statement:

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 301.6109-1(c).

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.

Employer/Payor signature

u

Date u

 

Employee/Payee information

Type or print employee/payee first name and initial

Last name

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

Employee/payee statement:

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.

Employee/payee signature

u

Date u

26 USC §6724, waiver of penalty (26 USC §6724(a)) assessed under the code upon a showing of reasonable cause, and Treasury Regulation 301.6109-1(c) Treasury Regulation 301.6109-1(c) provides: .... When the person filing the return statement, or other document

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.]

Public DomainPrivacy Form P-1 (02) 1999

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