AMERICAN QUARTER HORSE ASSOCIATION—MAY 28, 2015—In connection with the efforts of the National Thoroughbred Racing Association and American Horse Council, AQHA has submitted a letter to the United States Treasury Department in support of modernization of regulations relating to player withholding and reporting.

The changes proposed by the NTRA on behalf of its membership and the racing industry would positively impact all levels of horseplayers, regardless of whether a person typically wagers $1, $100 or $1,000. By understating the amount wagered when determining when operators must withhold or report winning pari-mutuel wagers, the IRS is imposing significant additional reporting and withholding obligations on horseplayers while creating unnecessary paperwork for the IRS.

A clarification would directly benefit pari-mutuel customers by reducing burdensome tax obligations. The proposal also aims to lessen racing’s competitive disadvantage against other forms of gaming that are not subject to such aggressive tax treatment related to reporting and withholding.

The public is strongly urged to comment to the U.S. Treasury Department by the June 2 deadline, and the NTRA reports that the Treasury Department is closely monitoring the quality and quantity of comments.

The NTRA has created an easy-to-use form that makes it simple for the public to submit an e-mail directly to the appropriate IRS and Treasury Department officials at www.ntra.com/IRScomment.

AQHA News and information is a service of the American Quarter Horse Association. For more news and information, follow @AQHARacing on Twitter, watch the AQHA Racing Newscast and visit www.aqharacing.com.