The IRS has issued Publication 3079, "Gaming Publication For Tax-Exempt
Organizations". The federal requirements for income, employment, and  wagering and
excise taxes are explained for nonprofit organizations that conduct "gaming" activities.

 If your organization is involved in lawful gambling, this publication was written for you.

 The IRS not only explains what you have to do, it also provides good descriptions of
exceptions to the unrelated business income tax that may exempt you from paying
income tax.

 It also explains your recordkeeping responsibilities and includes examples of
spreadsheets to help you with required records.

 The publication can be downloaded from the IRS Internet Web page at
http://ftp.fedworld.gov/pub/irs-pdf/p3079.pdf or you can call the IRS at 1-800-TAX-FORM
(1-800-829-3676).

 Though this, like many other IRS publications, is a good introductory guide to the topic
covered, it is not a substitute for the well-reasoned professional advice you receive from
your Accountant or Tax Attorney.