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
July 23 @ 8:00 am - July 25 @ 5:00 pm
- NIGC Proposed Rule: Minimum Internal Control Standards Class IIJune 21, 2018
- NIGC to Announce Indian Gaming’s 2017 Gross Gaming RevenuesJune 8, 2018
- Supreme Court Overturns Federal Law Prohibiting Sports BettingMay 15, 2018
- The BlueBird Certified Public Accountants Scholarship for Native American Accounting Students 2018 RecipientApril 26, 2018
- Shining Stars Nominates Andrew Hofstetter as HonoreeApril 26, 2018