Official Summary

3/4/2008--Introduced.Internet Gambling Regulation and Tax Enforcement Act of 2008 - Amends the Internal Revenue Code to: (1) impose an Internet gambling license fee on Internet gambling operators; (2) require such operators to file informational returns identifying themselves and the indiv

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Official Summary

3/4/2008--Introduced.
Internet Gambling Regulation and Tax Enforcement Act of 2008 - Amends the Internal Revenue Code to:
(1) impose an Internet gambling license fee on Internet gambling operators;
(2) require such operators to file informational returns identifying themselves and the individuals placing wagers with them;
(3) require withholding of tax on annual Internet gambling winnings of more than $5,000;
(4) impose a 30% tax on the Internet gambling winnings of nonresident aliens; and
(5) impose the excise tax on wagers on any individual who places a wager with an unlicensed Internet gambling operator.

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