After the deadline, but within 30 days
$60 per form
After 31 days - August 1st
$130 per form
After August 1st, or not at all
$340 per form
Intentionally not filing
$680 per form
At a Glance
Form W-2G reports certain gambling winnings to the IRS. Casinos, lotteries, racetracks, and other gambling establishments issue this form when winnings meet specific thresholds. The thresholds vary by gambling type, ranging from $600 to $5,000 depending on the activity. A 24% withholding rate applies to winnings exceeding $5,000 from sweepstakes, lotteries, and certain wagering transactions.
Purpose of Form W-2G Certain Gambling Winnings
The primary purpose of Form W-2G is to report specific types of gambling winnings to the IRS. Gambling establishments, including casinos, lotteries, and racetracks, are required to issue this form to individuals who receive significant gambling winnings that meet certain thresholds. This ensures that the IRS is informed of income that might otherwise go unreported.
When Is Form W-2G Issued?
A payer must issue Form W-2G when the following conditions are met:
- Lotteries and Sweepstakes: Winnings of $600 or more, provided that the payout is at least 300 times the amount of the wager.
- Horse Racing, Dog Racing, and Jai Alai: Winnings of $600 or more, if the winnings are at least 300 times the wager amount.
- Bingo and Slot Machines: Winnings of $1,200 or more.
- Keno: Winnings of $1,500 or more, reduced by the wager.
- Poker Tournaments: Winnings exceeding $5,000.
IMPORTANT:all gambling winnings must be reported as income on your tax return.
How to Fill Out Form W-2G Certain Gambling Winnings
Box 1 – Reportable Winnings: Enter the gross amount of gambling winnings.
Box 2 – Date Won: Specify the date the winnings were received.
Box 3 – Type of Wager: Indicate the type of gambling activity (e.g., bingo, slot machine, keno).
Box 4 – Federal Income Tax Withheld: Report any federal income tax withheld from the winnings.
Box 5 – Transaction: Typically, this number can be the ticket number, machine number, or any other identifier that clearly ties the form to the particular gambling event or transaction.
Box 6 – Race: Enter the race or event number associated with the winnings.
Box 7 – Winnings from Identical Wagers: Identical wagers refer to bets placed on the same game or event, at the same odds or circumstances.
Box 8 – Cashier: Enter the identification (initials, employee ID, or code) of the cashier or employee who handled the payout transaction.
Box 9 – Winner's Taxpayer Identification Number (TIN): Enter the winner's Taxpayer Identification Number (TIN), typically a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN).
Box 10 – Window: Enter the window number or location identifier within the gambling establishment where the winnings were paid out.
Box 11 – First Identification: Record the first type of government-issued identification presented by the winner (e.g., driver’s license number or passport number).
Box 12 – Second Identification: Record the second type of government-issued identification presented by the winner (e.g., driver’s license number or passport number).
How to fill out Box 3 Type of Wager in BoomTax Spreadsheet
BoomTax users who are filling out our template may elect to use the following digit only representation of the different types of wagers.
- Horse racetrack (or off-track betting of a horse track nature)
- Dog racetrack (or off-track betting of a dog track nature)
- Jai-alai
- State-conducted lottery
- Keno
- Bingo
- Slot machines
- Poker winnings
- Any other type
Notice to Issuers
For entities that facilitate gambling activities, issuing Form W-2G is not only a legal obligation but also a critical component of maintaining transparent financial records. Timely and accurate distribution of this form helps prevent potential penalties and ensures that both the payer and the recipient adhere to federal tax laws. Moreover, it assists recipients in fulfilling their tax reporting responsibilities, thereby promoting overall compliance within the gambling industry.
Tax Withholding on Gambling Winnings
Regular Gambling Withholding: A 24% withholding rate applies to gambling winnings exceeding $5,000 from sweepstakes, wagering pools, lotteries, and other wagering transactions if the winnings are at least 300 times the amount wagered.
Backup Withholding: If a winner fails to provide a correct taxpayer identification number (TIN), the payer must withhold 24% of the winnings, regardless of the amount.
When is the Deadline For Form W-2G in Tax Year 2025
-
February 2nd, 2026
Recipient Copies
Form 1099 & W-2G must be distributed to the recipient on or before February 2nd
-
March 2nd, 2026
-
March 31st, 2026
E-File
Form 1099 & W-2G must be e-filed directly to the IRS on or before March 31st
Visit our deadlines article to learn more about Form 1099 & W-2G due dates.
Note: If the filing deadline lands on a Saturday, Sunday, or legal holiday, the due date will automatically be extended to the following business day.
The exception to these deadlines above is for filing Form 1099-NEC. Depending on the filing method, there is a month's advancement on the recipient and IRS copies being January 31st. Get started with BoomTax and file your W-2G with the IRS, state, and mail recipient copies on time. Get Started Now
If you find errors after filing your W-2G return with the IRS, promptly correct the information and submit the corrected Form W-2G and Form 1096 to the IRS. Also, provide your recipient with an updated W-2G showing the updated details. If you need to correct any state or local tax department information, file the form with the appropriate agencies, not the IRS.
What is the Penalty for Missing Form W-2G Deadline?
Failing to file Form W-2G by the deadline or meeting the deadline but providing incorrect recipient information can result in IRS penalties ranging from $60 to $680, depending on how late the form is submitted. The IRS has increased the penalty amounts for the 2026 filing year.
W-2G penalties may be subject to the following:
- Furnishing incorrect information on a return
- Failure to provide the required information
- Late filing of returns
- Paper filing when required to file electronically (E-file W-2G if you have 10 or more information returns)
Frequently Asked Questions About Form W-2G
Do all gambling winnings require Form W-2G?
No. Only certain gambling winnings that meet specific IRS thresholds require Form W-2G. However, all gambling winnings are generally taxable, even if you do not receive a Form W-2G. Taxpayers should keep accurate records of all gambling income and report it on their tax return.
Why didn't I receive a Form W-2G for my winnings?
You may not receive a Form W-2G if your winnings did not meet the IRS reporting thresholds or if tax was not required to be withheld. Even without a form, you are still responsible for reporting all taxable gambling income on your tax return.
When must payers furnish Form W-2G to winners?
In general, payers must furnish Copy B of Form W-2G to the winner by January 31 of the year following the year of the winnings. Payers must also file the appropriate copies with the IRS by the applicable deadline, which can vary depending on whether they file on paper or electronically.
How are W-2G amounts reported on an individual tax return?
Gambling winnings reported on Form W-2G are typically included in the taxpayer's gross income on their federal Form 1040. Taxpayers may also be able to deduct gambling losses, but only up to the amount of their gambling winnings and usually only if they itemize deductions. For details, review IRS Publication 529 or consult a tax professional.
What if the information on Form W-2G is incorrect?
If a winner or payer notices an error on a Form W-2G, the payer should issue a corrected form and file the correction with the IRS. Keeping accurate records of wagers, winnings, and identification can help resolve discrepancies quickly and avoid unnecessary IRS notices.
The IRS is accustomed to changing rules year-to-year, sometimes even in the middle of the current tax season! This is why having the most accurate information about the IRS requirements and deadlines for filing any Form W-2G is essential. Use reliable tax software to e-file your forms and stay updated on any changes in regulations or deadlines.
Author
Ryan Casarez
Software Engineer at BoomTax
View all posts
Specializes in IRS compliance technology and building secure, efficient tax reporting solutions.
BoomTax and its affiliates do not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors prior to engaging in any transaction.