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What is W-2G Form: What You Should Know
You must make sure that the winnings are actually your winnings. The winnings must fall within certain time periods beginning with one of your most recent completed tax years (you must be filing a year-end return to use the “complete and timely” clause). The time periods are: The two tax years prior to filing or, if applicable, the tax year after you file. You do not have to fill out these forms each year, if you don't want to. When to Pay Taxes on Gambling Winnings If your tax withholding or tax refund withholding has been withheld for gambling losses (and not gambling winnings), you may have to pay taxes on those winnings. If your tax withholding or tax refund withholding has been withheld for gambling winnings, be certain to have your tax forms completed and on IRS.gov each year.
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