LOBIONDO OPPOSES LOWERING THRESHOLD OF REPORTING CASINO WINNINGS

An IRS proposal to drop the amount at which casino winning would have to be reported has some detractors in Washington D.C. Congressman Frank LoBiondo is among a group of federal lawmakers pushing against a proposal that would shut down a slot machine after a $600 win and force the casino to come and get the information from the winner for tax purposes. Currently, the law is at $1200. Casinos say lower the threshold will keep some from gaming longer as the machine can’t be put back on until all of the information is taken down to be submitted to the IRS.