TOC Teleconference: Overview of New Tax Bill
January 11, 2018 Overview of New Tax Bill This update covers a number of areas, including aspects of the tax bill most pertinent to owners, breeders, trainers and [...]
TAX BILL BENEFITS THOROUGHBRED BREEDERS AND OWNERS, DOUBLES CERTAIN DEPRECIATION BENEFITS, RETAINS MISCELLANEOUS LOSS DEDUCTION FOR HORSEPLAYERS
FOR IMMEDIATE RELEASE Contact: Jim Mulvihill, NTRA Communications, (859) 422-2663, jmulvihill@ntra.com LEXINGTON, Ky. (Wednesday, December 20, 2017) – The Tax Bill cleared by Congress for President Trump’s signature contains [...]
A Horseplayers Perspective to the New Pari-Mutuel Regulations
by: Chris Larmey On Wednesday, the IRS announced new regulations regarding the withholding and reporting of pari-mutuel proceeds that will significantly help horseplayers and the entire racing industry. Just [...]
Horseracing Wins As Treasury/IRS Issue Updated Tax Rules
The U.S. Treasury Department and the Internal Revenue Service (IRS) today announced that they will formally adopt modernized regulations regarding the withholding and reporting of pari-mutuel proceeds. The National [...]
Twelve Congressmen Sign Letter Urging Treasury To Enact Recently Proposed Tax Reporting, Withholding Regulations
Contact: Keith Chamblin, NTRA, (859) 621-1120Twelve Congressmen Sign Letter Urging Treasury to Enact RECENTLY Proposed Tax Reporting, Withholding RegulationsLEXINGTON, Ky. (Wednesday, April 12, 2017) – Twelve members of Congress from [...]
NTRA Statement: Introduction of Tax Bills
Earlier today, Congressman Andy Barr (R-KY) introduced three important bills aimed at simplifying the tax code and encouraging investment in Thoroughbred racehorses. The NTRA applauds Congressman Barr for his [...]
NTRA Issues 2016 Horse PAC Annual Report
The National Thoroughbred Racing Association (NTRA) today released the 2016 Annual Report for its bipartisan federal Political Action Committee, Horse PAC®. Horse PAC® disbursed $290,500 to federal political candidates and PACs in 2016, the largest [...]
NTRA Establishes Process for Urging Treasury to Enact Proposed Pari-Mutuel Regs
The National Thoroughbred Racing Association (NTRA) today announced that a system has been established at http://ntra.kinsta.cloud/comment for individuals to submit an e-mail comment directly to the United States Treasury [...]
Department of Treasury and IRS Issue Proposed Regs To Modernize Pari-Mutuel Withholding and Reporting
The Department of Treasury and Internal Revenue Service (IRS) today issued newly proposed regulations relating to withholding and reporting with respect to pari-mutuel winnings. The 31-page Treasury document, entitled [...]