Artículo Form W-2G.. Form W-2G.

id="en_US_2023_publink100032376"> Form W-2G. If a payer withholds income tax from your gambling winnings, you should receive a Form W-2G, Certain Gambling Winnings, showing the amount you won and the amount withheld. Report the tax withheld on Form 1040 or 1040-SR, line 25c. Unemployment Compensation You can choose to have income tax withheld from unemployment compensation. To make this choice, fill out Form W-4V (or a similar form provided by the payer) and give it to the payer. All unemployment compensation is taxable. If you don’t have income tax withheld, you may have to pay estimated tax. See Estimated Tax for 2026 , later. If you don’t pay enough tax, either through withholding or estimated tax, or a combination of both, you may have to pay a penalty. See Underpayment Penalty for 2025 at the end of this chapter. Federal Payments You can choose to have income tax withheld from certain federal payments you receive. These payments are the following. Social security benefits. Tier 1 railroad retirement benefits. Commodity Credit Corporation (CCC) loans you choose to include in your gross income. Payments under the Agricultural Act of 1949 (7 U.S.C. 1421 et seq.), as amended, or title II of the Disaster Assistance Act of 1988, that are treated as insurance proceeds and that you receive because: Your crops were destroyed or damaged by drought, flood, or any other natural disaster; or You were unable to plant crops because of a natural disaster described in (a). Any other payment under federal law as determined by the Secretary. To make this choice, fill out Form W-4V (or a similar form provided by the payer) and give it to the payer. If you don’t choose to have income tax withheld, you may have to pay estimated tax. See Estimated Tax for 2026 , later. If you don’t pay enough tax, either through withholding or estimated tax, or a combination of both, you may have to pay a penalty. See Underpayment Penalty for 2025 at the end of this chapter. More information. For more information about the tax treatment of social security and railroad retirement benefits, see chapter 7. See Pub. 225, Farmer’s Tax Guide, for information about the tax treatment of CCC loans or crop disaster payments. Backup Withholding Banks or other businesses that pay you certain kinds of income must file an information return (Form 1099) with the IRS. The information return shows how much you were paid during the year. It also includes your name and taxpayer identification number (TIN). TINs are explained in chapter 1 under Social Security Number (SSN) . These payments generally aren’t subject to withholding. However, “backup” withholding is required in certain situations. Backup withholding can apply to most kinds of payments that are reported on Form 1099. The payer must withhold at a flat 24% rate in the following situations. You don’t give the payer your TIN in the required manner. The IRS notifies the payer that the TIN you gave is incorrect. You are required, but fail, to certify that you aren’t subject to backup withholding. The IRS notifies the payer to start withholding on interest or dividends because you have underreported interest or dividends on your income tax return. The IRS will do this only after it has mailed you four notices. Go to IRS.gov/Businesses/Small-Businesses-Self-Employed/Backup-Withholding for more information on kinds of payments subject to backup withholding. Penalties. There are civil and criminal penalties for giving false information to avoid backup withholding. The civil penalty is $500. The criminal penalty, upon conviction, is a fine of up to $1,000 or imprisonment of up to 1 year, or both. Estimated Tax for 2026 Estimated tax is the method used to pay tax on income that isn’t subject to withholding. This includes income from self-employment, interest, dividends, alimony, rent, gains from the sale of assets, prizes, and awards. You may also have to pay estimated tax if the amount of income tax being withheld from your salary, pension, or other income isn’t enough. Estimated tax is used to pay both income tax and self-employment tax, as well as other taxes and amounts reported on your tax return. If you don’t pay enough tax, either through withholding or estimated tax, or a combination of both, you may have to pay a penalty. If you