I've always thought that it could be fixed by SOMEONE convincing the IRS to
interpret the law differently. It would make a big difference to most of us
if W2s were issued for bets that had a $1,200 PROFIT instead of a $1,200
PAYOFF.
Becky
[Non-text portions of this message have been removed]
becksam wrote:
I've always thought that it could be fixed by SOMEONE convincing the
IRS to interpret the law differently. It would make a big difference
to most of us if W2s were issued for bets that had a $1,200 PROFIT
instead of a $1,200 PAYOFF.
It's not a matter of interpretation. The law explicitly says that
slot winnings aren't to be reduced by the wager. See:
http://tinyurl.com/mh72t
By the way, you did intended to write "most of us $5+ players", right?
- Harry