NBC Las Vegas: Players are against proposed IRS rule to lower reporting threshold

Video | 06.06.2015

The gaming industry is trying to stop the IRS from implementing new proposals designed to keep track of how much you win. Sergio Avila is live. I can’t imagine the casinos or the gamers like this idea. Sergio: A lot of gamblers we talked to are saying enough is enough. A proposal by the IRS is making waves in the gaming industry as they try to increase efficiency in tracking gambling winnings. They are proposing using your players cards to track how much you win. They also could lower the threshold of when you’re required to report your winnings from the current $1200 down to $600. Mia Johnson echoing a roar heard from gamblers across the country. “I wouldn’t want to gamble at all.” Like many others, Mia says you do not know how much a gambler has spent to hit the jackpot. “I would play like $1000. So if you win $1200 back that’s nothing. If they drop it down to $600, to me it’s a double loss.” Sergio: the American Gaming Association says the proposed rules would also burden casinos with more mandatory paperwork and reporting.

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RT @howardstutz: Regulators, @AmerGamingAssn agree: Sports betting should be governed at the state level https://t.co/vDggcV1uSU… https://t.co/kvcucoVico

May 23, 2018