"And, looking at it, again, from a purely "practical" point of view, would not such an obvious "tax dodge" raise a lot of etebrows at the IRS?"
I doubt it when there have been casinos that have the royal on quarter machines set to $1199 with big signs overhead advertising the $1199 royal and something to the effect of no taxes.
http://imagine-msn.com/messenger/launch80/default.aspx?locale=en-us&source=wlmailtagline
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While it may appear a "tax dodge" and encourage those that are dishonest not to report winnings where there isn't a W-2G - the casino saves money and adds to their bottom line
by paying out less money (i.e., $1199 vs $1250) and making the public think that beacuse there is no reporting done here they may be able to escape the tax-the only real difference to you the player is that you have to remember the win (and of course any losses to get it) come tax time.
kelso 1600 <kelso1600@hotmail.com> wrote:
"And, looking at it, again, from a purely "practical" point of view, would not such an obvious "tax dodge" raise a lot of etebrows at the IRS?"
I doubt it when there have been casinos that have the royal on quarter machines set to $1199 with big signs overhead advertising the $1199 royal and something to the effect of no taxes.
http://imagine-msn.com/messenger/launch80/default.aspx?locale=en-us&source=wlmailtagline
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