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.