This appears to be the final word (for now):
http://www.reviewjournal.com/business/casinos-gaming/irs-drops-proposals-tax-reporting-slot-winnings
This appears to be the final word (for now):
http://www.reviewjournal.com/business/casinos-gaming/irs-drops-proposals-tax-reporting-slot-winnings
I agree state AND Fed would get less taxes. Very small % of folks keep diary and track losses. With easy access to win loss reports many more might take time to deduct losses from wins. Especially if signers at $600 or more. Official law states must keep contemporaneous diary to claim losses, if I remember? Once casino data base is allowed for slots deducting, would casino have to require player cards. Or could one play without card? Can we play without card? Can we still use old way. How about live poker & bj, etc etc? I can see a nightmare of regulations and questions developing with this proposed rule.
Cheers…HAPPY NEW YEAR !!!