IRS Notice: Wager Excise Tax Comments Submitted on 2022-2023 Priority Guidance Plan (IRC §4401)

Public comments released May 5 on Notice 2022-21 that invited the public to make recommendations for items that should be included on the 2022-2023 Priority Guidance Plan. The comments request the IRS to issue guidance confirming that daily fantasy sports contests are not subject to the excise tax imposed under I.R.C. §4401. [Comments from Skadden, Arps, Slate, Meagher & Flom LLP and PwC LLP]

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