NBC Springfield: IRS Proposes To Report Smaller Winnings At Casinos

Video | 03.10.2015

The recent IRS proposal suggests that people report their winnings at the casino at $600 or above instead of the $1,200 that it is now, whether it be bingo, keno or the slot machines. And they’re giving the public a 90 day period to voice their opinion on the regulations.

“Not only would this potential policy change create additional burdensome and unnecessary reporting requirements for gaming companies, but it could also cost states millions of dollars in revenues that support vital public services,” said Sara Rayme, senior vice president of public affairs of the American Gaming Association. “Rather than going backwards, the gaming industry seeks forward-looking policies that enable our industry to reinvest, innovate and create more jobs.”