IRS wants to lower Taxable Winnings rule for Slot Machines from $1,200 to $600
For nearly four decades, fans of the slot machines have been paying taxes only on winnings that equate to $1,200 or more. But now, thanks to a new proposal by the Internal Revenue Service (IRS), the threshold for taxable casino winnings could be cut in half. The IRS is proposing that casino winnings should be … [Read more…]