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Illinois Department of Revenue IL-5754 Statement by Person Receiving Gambling Winnings Who must complete this form gambling winnings over 1 000. Signature Date Note Give your completed and signed form to the person who pays you the winnings. IL-5754 R-12/05 This form is authorized under the Illinois Income Tax Act. Use your mouse or Tab key to move through the fields. Use your mouse or space bar to enable check boxes. This form provides a record of who received winnings and to whom the...
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What do you need to do for this form? The checkboxes must have a name or number that is clearly stated on the form. If no name or number is stated clearly, you must enter an “X”. The payer submit the completed form to the Illinois Department of Revenue and include the checkbox for each person receiving winnings that you receive over 1,000. After the checkbox has been checked, complete all checkboxes to the right. Checkboxes without names or numbers must be completed with an “X”. If the form is completed and submitted to the Illinois Department of Revenue, no additional IRS information will be requested. If any additional information is required (such as Social Security number or Taxpayer Identification Number), the IRS will send the information. Do not use the form to report income. If you believe any of your income is subject to state or federal taxes, you must report it on Form 4868. To report income other than income from lottery winnings, you must report income on IRS Form 2441 with the appropriate instructions. Filing Information Returns on time can be difficult at times. However, if you need to obtain information from the Department of Revenue about your winnings (such as a record of any winnings for tax purposes), you should provide the following information as soon as reasonably possible: When a state-licensed casino pays lottery winner the winnings. When a state-licensed lottery operator pays lottery winner over 1,000. Payment to the state-licensed lottery or lottery operator. To receive such payments: Make sure to check the “Request for payment” box. Be sure to identify yourself when filing the form. Include your Illinois ID number or license number if you have one. If payments exceed the amount of the total winnings (or more), send Form 4868 to the Department of Revenue with a check or money order made payable to the “Illinois Department of Revenue”. Use the amount as shown on the form (including the applicable federal taxes). To report income (other than winnings from state-licensed gambling), you must report it on IRS Form 4868 with the appropriate instructions. To report a change of address, you must complete Form 4868 and return it with the appropriate payment to the Department of Revenue.

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The IL 5754 form is a tax form used by entities in Illinois to report certain types of payments for gambling winnings.
Any entity that pays gambling winnings in Illinois where the winnings exceed certain thresholds is required to file the IL 5754 form.
To fill out the IL 5754 form, you will need to provide information about the payer, the recipient of the gambling winnings, the amount of winnings, and any taxes withheld.
The purpose of the IL 5754 form is to report and track gambling winnings in Illinois and ensure appropriate taxes are withheld and paid.
The IL 5754 form requires information such as the payer's name, address, and taxpayer identification number, as well as the recipient's name, address, and taxpayer identification number. Additionally, the form requires reporting of the amount of gambling winnings and any taxes withheld.
The deadline to file the IL 5754 form in 2023 is typically March 15th, but it is recommended to check with the Illinois Department of Revenue for any specific deadlines or extensions.
The penalty for late filing of the IL 5754 form can vary depending on the circumstances. It is generally advisable to file the form on time or seek an extension if needed to avoid potential penalties and interest.
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