LMAO! Who'd a thunk it? But yes, the IRS is up to it's old shenanigans of trying to screw everybody again, the gamblers, the casinos and maybe even themselves if this new proposal gets adopted. They put the $1200 threshold into effect in 1977. In 2015 dollars that's about $4600 today. Has the IRS ever adjusted the threshold for inflation? Heck, no. Why would they do that? Inflation has worked in their favor all these years.
The $600 threshold would wreak havoc on higher denom players and casinos alike, and maybe even the IRS. I think a lot of recreational players would simply quit playing at those levels if they have to sit around waiting on W2'G's all day. Consequently, less profit for the casinos, lless taxes for the state, less taxes for the IRS.
For lower denoms we could all be looking at different payscales. For example, take FP Kings or Better Joker Poker at the 25 cent denom (now 100.6463%). Adjust the Royal payout to 460 for 1, the 5K payout to 250 for 1, and the JR to 130 for 1 and you have a 100.6459% game.
I'm sure the casinos will fight this tooth and nail. But I think state governments need to get into action against it too, and gamblers everywhere need to jump on the bandwagon against the rule change. If anything, it should be adjusted the other way. I think we all need to flip this thing over on the IRS. The level needs to be adjusted the other way....raising the W2-G threshold to at least $4000.
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Posted by: mickeycrimm@yahoo.com
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