There’s been a lot of discussion about the IRS’ announcement that it's "contemplating" making this change. Our initial reaction was that it would cause so much upheaval on both the casino and the player side of the ledger, that there’s probably little chance that it will happen. However, the IRS’ apparent resolve to increase its gambling-related oversight – especially as it relates to potential money laundering and "counter-terrorist financing" – seems strong enough that there may be some reason for concern.
That feeling is shared by the American Gaming Association (AGA) and other organizations and individuals in the industry, who are now urging players to make their opposition to the new reporting structure known before the "IRS comment deadline" of June 2.
Back in March of this year, our readers made their position very clear in the results of a Poll we ran on this subject (check out the comments we received in email feedback, too, both from players and casino staff), while a good list of places where you can go to state your position was compiled by LVA blogger Jean Scott at Frugal Vegas. They are:
As your constituent, I’m asking you to please tell the IRS not to reduce the slot gaming winnings threshold from $1,200 to $600 because it would severely harm the customer experience and reduce state revenues. #NoMorePaperwork
For more information and Jean’s take on the situation, check out her May 18 post at "Frugal Vegas," Call to Action: Stop IRS Changes.
