IRS offers gaming guidelines for volunteer fire departments
A new Internal Revenue Service (IRS) publication, Gaming Publication for Tax-Exempt Organizations, (#3079) is aimed at improving compliance with tax laws. It provides tax-exempt organizations that conduct gaming with a single source that explains the federal tax filing requirements in simple language. Covered are activities such as bingo, Beano, lotteries, pull-tabs, parimutual betting, punch boards, tip jars, certain video games, and so on. All tax-exempt organizations, including most volunteer fire departments that conduct or sponsor gaming activities–whether one night a year or throughout the year–must be aware of the federal requirements for income tax, employment tax, and excise tax, explains the IRS. The guide may be obtained by calling (800) 829-3676.
