Hey Gang,
I know this has been discussed already but I don't know if the link for comments to the IRS has been put up. I know we are all hoping to avoid more paperwork. The bullet points below are from the AGA. Below that is a link to the IRS for comments.
The IRS could soon force casino guests to dramatically increase the level of paperwork, which would severely undermine the customer experience.
Specifically, the IRS may consider lowering the tax reporting threshold on slot machines from $1,200 to $600.
Not only has this $1,200 threshold existed since 1977, but when accounting for inflation indexing the threshold should actually be nearly $4,700 today.
This potentially burdensome requirement, for taxpayers and for the IRS, would cost states and cities significant tax revenues that pay for vital public services, such as teachers, firefighters and road improvements.
Please tell the IRS not to reduce the slot gaming winnings threshold from $1,200 to $600 because it would severely harm the customer experience and reduce state revenues.
The link below should take you directly to a page where there is a button on the left in blue that says "Comment Now". Comments can be made up until June 2nd. Let them hear your voice!
http://www.regulations.gov/#!documen...2015-0006-0001 If the link doesn't take you right there, search for IRS REG-132253-11 at the site