IRS Proposes New Reporting Thresholds, American Gaming Association Opposes

Testimony is being put forth this Wednesday by Geoff Freeman, Chief Executive of the American Gaming Association, in front of the US Internal Revenue Service (IRS). To protect the interests of American gambling organizations, Freeman is contesting new proposals from the IRS to implement new player tracking and management systems for tax reporting purposes.

The new tax reporting outline would also bring about refined winning reportage thresholds. Currently, automatic reporting is done for wins that exceed $1,200 and the new proposed value would cut that in half to $600. More information can be found on the latest InfoPowa reports.
  • Jade lcb

    jade

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    Yes, I have already read about this IRS trying to control us with every chance they get. I don't think it's going to fly. Not much support for the IRS anywhere, certainly not here at my house, ha, ha......... Most Americans think the IRS has more power than it needs right now. We don't want to see it go to their heads. OK IRS, back off now.........

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