Pub. L. 102-486, tit. XIX, subtit. B, sec. 1942

UNIFORM EXEMPTION AMOUNT FOR GAMBLING WINNINGS SUBJECT TO WITHHOLDING.

EnactedYear: 1992Length: 49 wordsOfficial source

SEC. 1942 UNIFORM EXEMPTION AMOUNT FOR GAMBLING WINNINGS SUBJECT TO WITHHOLDING. (a) In General.— Subparagraphs (A) and (C) of section 3402(q)(3) are each amended by striking “$1,000” and inserting “$5,000”. (b) Effective Date.— The amendments made by subsection (a) shall apply to payments of winnings after December 31, 1992.