Last summer, when the IRS suggested lowering jackpot reporting thresholds from $1,200 to $600 the entire casino industry spoke out in opposition. The gaming industry was concerned that lowering the reporting threshold would create more paperwork for customers and employees, which would cause more downtime for machines, resulting in lower revenues. Due to the vigilance of the gaming industry, the American Gaming Association and other gaming industry leaders were able to organize and present a well researched testimony in opposition at the public hearing. The IRS has seemed to back away from the proposed changes and hasn’t released any statements regarding the issue since the public hearing in June 2015.
Upcoming Events & Seminars
Annual Tribal GAAP and GASB Update 2017 / How to Prepare for an Audit and Tribal Gaming Fraud UpdateOctober 18 @ 9:00 am - October 19 @ 4:00 pm
- NIGC Announces Notice of Proposed RulemakingOctober 13, 2017
- 2016 Indian Gaming Revenues Increased 4.4%August 4, 2017
- NAFOA Policy Alert: Relief Given to Tribal Government Audits on FASB-Based Financial StatementsJuly 27, 2017
- Uniform Guidance Procurement Grace Period ExtensionJune 5, 2017
- NIGC 2017 Final Fee Rate and Fingerprint FeesJune 5, 2017