Las Vegas Review-Journal story<\/a>, the IRS “may not believe this is much of an administrative hassle.” Which, we’re thinking, is an indication the IRS understands casinos like the Amish understand iPads.<\/p>\nThis IRS rule change may also have consequences beyond the obvious. One of our commenters, Andy Bruinewoud, adds, “It’s an annoyance for U.S. players. It might be a back-breaker for Canadians or other foreign visitors who don’t have withholding tax treaty protections. We pay 30% non-resident tax on winnings. If the threshold gets lowered to only $600, people will either play smaller on the machines or switch to table games. Or, of course, not come at all. Bad for Vegas, where the highest percentage of foreign tourists are from Canada.”<\/p>\n
Here’s hoping the American Gaming Association and casinos bring all their resources to bear to make this IRS dipshittery disappear faster than a cheater at Binion’s back when Benny ran the place.<\/p>\n<\/body><\/html>\n","protected":false},"excerpt":{"rendered":"
The Internal Revenue Service has proposed lowering the reporting level for casino slot machine jackpots from $1,200 to $600. Typically, when a slot jackpot of $1,200 or more is won, the machine locks up while players endure a time-consuming process of filling out paperwork to ensure taxes are paid on the winnings. If the IRS […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13,23,30,19],"tags":[],"acf":[],"yoast_head":"\n
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