[Code of Federal Regulations]
[Title 26, Volume 15]
[Revised as of April 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR44.6419-2]

[Page 44-45]
 
                       TITLE 26--INTERNAL REVENUE
 
                               (Continued)
 
PART 44--TAXES ON WAGERING; EFFECTIVE JANUARY 1, 1955--Table of Contents
 
Subpart E--Administrative Provisions of Special Application to the Taxes 
                               on Wagering
 
Sec. 44.6419-2  Credit or refund on wagers laid off by taxpayer.

    (a) Laid-off wagers; in general. If a taxpayer accepts a wager and 
lays off all or a part thereof with another person who is liable for tax 
under section 4401 with respect to such laid-off wager, a credit may be 
allowed to such taxpayer in the amount of the tax due with respect to 
the amount of the wager so laid off, provided there is attached to the 
return for the month during which the wager was accepted and laid off by 
him the certificate prescribed in paragraph (d) of this section.
    (b) Claim for refund. If a taxpayer has paid the tax with respect to 
a wager laid off by him, he may file a claim for refund of such tax on 
Form 843 or take a credit for the tax paid by him against the tax shown 
to be due on any subsequent monthly return. If a refund is claimed, Form 
843 shall be completed in accordance with the instructions thereon and, 
in addition, there shall be attached to such form a statement setting 
forth the reason for claiming the refund, the month in which such tax 
was paid, the date of payment, and whether any previous claim for refund 
covering the amount involved or any part thereof has been filed. There 
shall also be attached to the Form 843 the certificate prescribed below. 
In the case of a credit, the statement and certificate shall be attached 
to the monthly return on which the credit is claimed.
    (c) Credit or refund not allowed. No credit or refund will be 
allowed under this section if the wager is laid off with a person or 
organization not liable for tax under section 4401 with respect to such 
laid-off wager. No interest shall be allowed on any amount of tax 
credited or refunded under this section.
    (d) Certificate required. The certificate prescribed for use in 
support of a credit or refund with respect to a laid-off wager shall be 
in the following form:

                               Certificate

(In support of credit or refund with respect to laid-off wagers under 
section 6419(b) of the Internal Revenue Code.)
    I hereby certify that I, or the ---------- (Corporation, 
partnership, or syndicate) of which I am an officer or member, doing 
business at ------------------------, (Address) registered with the 
District Director of Internal Revenue at --------------------, --------
------------ under Registration No. -------- as a person accepting 
wagers within the meaning of section 4401 of the Internal Revenue Code, 
accepted laid-off wagers, in the amounts and on the dates indicated 
below, from ------------------, (Name) ----------------, (Address) 
during the month of ------------, 19------.


                                                        Subject of laid-
                                                           off wager
                                                        (Identify horse
               Date                 Amount of laid-       and track,
                                       off wager          particular
                                                          contest, or
                                                       contestant, etc.)






(Attach supplemental sheets for additional entries, if necessary.)

    The undersigned further certifies that he, or the corporation, 
partnership, or syndicate of which he is a member will make return of 
and account for the tax, under section 4401 of the Internal Revenue 
Code, with respect to the laid-off wagers so accepted.

[[Page 45]]

    It is understood by the undersigned that this certificate is given 
for the purpose of enabling the person from whom the laid-off wagers 
were accepted to claim credit with respect to the tax due on such laid-
off wagers or to claim credit or refund of the tax, if any, paid on such 
laid-off wagers.
    It is further understood that the fraudulent use of this certificate 
will subject the undersigned and all guilty parties to a fine of not 
more than $10,000 or to imprisonment for not more than five years, or 
both, together with costs of prosecution.

(Signed)________________________________________________________________
(Date)__________________________________________________________________
(Title)_________________________________________________________________
                                (Owner, President Partner, Member, etc.)