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Internal Revenue Service Contests & Promotions

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
BakerHostetler

Congratulations, Promotion Sponsors – You’ve Won Less Prize Paperwork!

BakerHostetler on

Great news for brands operating consumer promotions, sweepstakes, and contests! Effective for the 2026 tax year, the One Big Beautiful Bill Act (P.L. No. 119-21) raises the threshold for issuance of a Form 1099-MISC from $600...more

Venable LLP

Tennessee and Utah Amend Charitable Solicitation Laws: New Filing, Disclosure, and Other Obligations Affect Fundraising Compliance...

Venable LLP on

Tennessee and Utah have revised the scope of their charitable fundraising laws. These changes will affect how and what nonprofit organizations registered to solicit in those states must disclose to state charity regulators....more

Dickinson Wright

Gaming & Hospitality Legal News, Volume 12, Number 14: Internal Revenue Service Makes Determination Regarding Tax Liability for...

Dickinson Wright on

In recent months, the Office of Chief Counsel of the Internal Revenue Service (“IRS”) has published guidance concluding that Daily Fantasy Sports (“DFS”) contests are wagering transactions for U.S. federal tax law purposes. ...more

Fox Rothschild LLP

IRS Memo: Daily Fantasy Sports Are Wagers Subject To Excise Taxes

Fox Rothschild LLP on

“Nothing can be said to be certain, except death and taxes.” ? Benjamin Franklin. This familiar phrase resonates for daily fantasy sports (DFS) operators following the release of a July 23, 2020 Internal Revenue Service...more

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