IRS suggests dropping casino winnings threshold from $1,200 to $600

[Voice of Reason]

I already spend ALL my vacation dollars there.

or Cuba

[Blonde4ever]

Ha!  Only been to Cuba once...not in a big hurry to return.

I have gotten a refund for tax winnings before but first I have to prove that I lost more than I won, this is never an issue of course.
But it is still a giant pain the butt to have to file for something that never should have been taken away in the first place.

[nostresshere]

No lawmaker wants to get in the middle of this one.  So, no change.

[Chuck Bartowski]

No lawmaker wants to get in the middle of this one.  So, no change.

I certainly would not bet on that.  In addition to the comment period for this proposal, the IRS is in talks with casino operators for a much more dangerous proposal.  That being - the IRS is also suggesting that casino operators provide slot club member's yearly win/loss data directly to them.  No telling where this proposal will go.  It's out there, it's being seriously considered.  This was revealed on Dancer's podcast a couple weeks ago.  I hope it doesn't go anywhere, but it's a constant threat.  I'm going to send in my comments against both these while the comment period is still open.  It's about all I can do -but it is what it is.  You can listen to the podcast here - this issue is covered in the first few minutes of the cast.

http://www.slot-machine-resource.com/podcasts/loeb2.mp3

[Chuck Bartowski]

Here's the official link to read about the $1200 - $600 reporting requirement.  If you wade through it, you will find that it includes many more changes than just the drop in the threshold.  I think it has a good chance of passing if the people remain complacent.

https://www.federalregister.gov/articles/2015/03/04/2015-04437/information-returns-winnings-from-bingo-keno-and-slot-machines

[StatFreak]

How did you come across the podcast link at slot-machine-resource dot com?

I ask because the main site only has some articles about slots and no links to the podcasts, and although they appear to be hosting the podcasts, Bob Dancer's direct links to them from his page go to his own site.
http://www.bobdancer.com/mp3/gwae050515.mp3   (It's the same podcast)

Just curious.

[Chuck Bartowski]

How did you come across the podcast link at slot-machine-resource dot com?

I ask because the main site only has some articles about slots and no links to the podcasts, and although they appear to be hosting the podcasts, Bob Dancer's direct links to them from his page go to his own site.
http://www.bobdancer.com/mp3/gwae050515.mp3   (It's the same podcast)

Just curious.

Here:  http://www.richardmunchkin.com/

[StatFreak]

How did you come across the podcast link at slot-machine-resource dot com?

I ask because the main site only has some articles about slots and no links to the podcasts, and although they appear to be hosting the podcasts, Bob Dancer's direct links to them from his page go to his own site.
http://www.bobdancer.com/mp3/gwae050515.mp3   (It's the same podcast)

Just curious.

Here:  http://www.richardmunchkin.com/

There seem to be several routes to those broadcasts.  Everyone's got a plug.

[knagl]

I was looking at the IRS website for comments about this topic, and happened upon a comment by one William John Granoff.  Thought some others here might find it interesting.

http://1.usa.gov/1casYXD

[Voice of Reason]

Thanks for the link.

As with much of Bill's other writing there are a couple of gaps in reasoning.