The American Gaming Association has been beating a drum for all to hear since it was announced in early March that the IRS is considering a change to casino reporting rules. Rather than raising the reporting threshold set in 1977 to account for inflation, they may cut it in half.
Currently, online players must report winning amounts of $1,200 or more. When playing at video lottery terminals (VLT) true odds video poker, slots at racetrack venues, bingo, or Indian casinos the venue is responsible for making sure you fill out the proper form, W2-G. Keno winnings of $1,500 or more must also be reported.
The proposed rule change would reset that amount to $600 for winnings from keno, bingo, or slot machines. Any minor jackpot win would force a machine lockdown and players would n…