Proposed IRS Rule Change From $1200 to $600 on W2-G Jackpots

[Mike_Frankel]

I believe that the more comments the IRS gets, from us small players,
the better. But, no bad language or harangue as such will cause a
comment to be ignored. I am surprised that the big casino groups
haven't asked their players to comment about this issue; though they may
be afraid that if they explain the time delay of receiving payoffs may
deter them from playing in the future.

Written or electronic comments must be received by June 2, 2015
Send submissions to: CC:PA: LPD:PR (REG-132253-11), Room 5205, Internal
Revenue Service, P.O. Box 7604, Ben Franklin Station, Washington, DC
20044. Submissions may be hand-delivered Monday through Friday between
the hours of 8 a.m. and 4 p.m. to CC:PA:LPD:PR (REG-132253-11),
Courier's Desk, Internal Revenue Service, 1111 Constitution Avenue NW.,
Washington, DC, or sent electronically, via the Federal eRulemaking
Portal at http://www.regulations.gov (IRS REG-132253-11).

[Effen_Dolts]

I am in favor of the IRS implementing session aggregation, which is an integral part of the new proposal. This change will reduce my W2-G total by around 50% whether they go to $600 or not, but your mileage may vary. I would be quite annoyed if they installed the $600 limit without going to session aggregation. The $600 limit for 1099's has been $600, and has never been adjusted for inflation. By the IRS way of thinking, they believe they have been giving casinos a break all these years when the limit has been $1200.

I have heard a lot of ranting about this proposal by people who have not read it or understood the implication of session aggregation. For me, it will be very favorable, but would slow down my play on $5 JB in those cases where another machine is not available to play after hitting quads.

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