26 C.F.R. § 44.4403-1 Daily record.
Title 26 - Internal Revenue
Every person liable for tax under section 4401 shall keep such records as will clearly show as to each day's operations: (a) The gross amount of all wagers accepted; (b) The gross amount of each class or type of wager accepted on each separate event, contest, or other wagering medium. For example, in the case of wagers accepted on a horse race, the daily record shall show separately the gross amount of each class or type of wagers (straight bets, parlays, “if” bets, etc.) accepted on each horse in the race. Similarly, in the case of the numbers game, the daily record shall show the gross amount of each class or type of wager accepted on each number. For additional provisions relating to records, see section 6001 and §44.6001–1.
Title 26: Internal Revenue
PART 44—TAXES ON WAGERING; EFFECTIVE JANUARY 1, 1955
Subpart B—Tax on Wagers
§ 44.4403-1 Daily record.
