Charitable Gaming Newsletter December 2020

Hello from the Charitable Gaming Group!

HOW TO REPORT COVID RELIEF FUNDS USED TO PAY FOR GAMING-RELATED EXPENSES IN 2020.

Annual Financial Statement
If relief funds were deposited in the gaming bank account, and used to pay for gaming-related expenses, report the amount on Schedule F using this description: COVID Relief Funds.

If relief funds were deposited in the general bank account, and used to pay for gaming-related expenses, report the amount on Schedule F using this description: COVID Relief Funds from General Account.

Operator Annual Report
Do not report receipt of relief funds on the Operator Annual Report that is filed with the Department. This information should be documented in the CPA-reviewed financial statment.

Multiple Beneficiary Permittee Annual Report
Do not report receipt of relief funds on the Multiple Beneficiary Permittee Annual Report that is filed with the Department. This information should be documented in the CPA-reviewed financial statement.

DO NOT FORGET TO RENEW YOUR PERMIT FOR 2021
If you have not renewed yet, login to your Revenue Online account, navigate to the Permit Account Type and click on the Account ID which is a blue hyperlink (it is also your permit number). Choose Renew Now for the 31-Dec-2021 period and follow the prompts.

12/31/2020 ANNUAL FINANCIAL STATEMENT AND PAYMENT DUE MARCH 15, 2021
To file the report, login to your Revenue Online account, navigate to the Annual Financial Statement Account Type and click on the Account ID which is a blue hyperlink (it is also your permit number). Choose File Now for the 31-Dec-2020 period and follow the prompts.

You may request a 30-day extension of time to file before the due date, however an extension of time to file is not an extension of time to pay. If you are not sure how much you will owe, make an estimated payment no later than 3/15/2021.

IN OUR NEXT NEWSLETTER
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Sincerely,
The Charitable Gaming Group
Phone: (907) 465-2581
Email: dor.tax.gaming@alaska.gov
Charitable Gaming Website: www.tax.alaska.gov/gaming
Revenue Online Website: https://online-tax.alaska.gov