IRS CONSIDERING PLAN TO CUT THRESHOLD TO $600 WHEN HALTING PLAY AFTER WIN

Casinos are upset with a federal proposal that would cut the level in half from when a slot machine is shut off in Atlantic City after a big win. If you win $1,200, the machine shuts down till someone from the casino can gather your name for reporting purposes. The IRS now is considering bringing that number down to $600. Casinos say this will slow down play and cut the amount of time people are gambling on the floor, which would cut into revenue. The proposal is being considered and isn’t adopted at this time.

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