IRS W2-G Threshold

[mickeycrimm]

Nevada Independent: IRS Advisory Council supports Nevada reps’ effort to raise slot tax reporting threshold

"...the IRS Advisory Council said the threshold figure should be raised from $1,200 to $5,800..."

https://thenevadaindependent.com/art...ting-threshold

[jdog]

Now there's some good news. Weren't we just talking about this not too long ago? I threw $5000 out there as a more fair number, I guess some others agree.

[Don Perignom]

People say this will fail again because the government doesn't want to lose revenue. (The ratchet only goes one way.)

On another board, someone asserted the proposal would be scored as revenue neutral because taxes are supposed to be paid on all winnings.

It's a fair point I suppose, although doesn't seem to have helped so far.

[theywontpayontuesday]

I've been told slot attendants make $70k a year because of tips and this would mean a drastic pay cut. I don't believe the government will give this money up willingly.

[MaxPen]

I've been told slot attendants make $70k a year because of tips and this would mean a drastic pay cut. I don't believe the government will give this money up willingly.

If people are tipping slot attendants for inconveniencing them with w2-g's then they're doing something wrong.

[accountinquestion]

I've been told slot attendants make $70k a year because of tips and this would mean a drastic pay cut. I don't believe the government will give this money up willingly.

If people are tipping slot attendants for inconveniencing them with w2-g's then they're doing something wrong.

IMO if you are in a joint for a longer time and doing something in there on the regular, giving them $20 is worth it. IMO it isn't worth having them associate you in a negative light.

[MisterV]

IMO if you are in a joint for a longer time and doing something in there on the regular, giving them $20 is worth it. IMO it isn't worth having them associate you in a negative light.

Why not?

What, are they gonna spit on your W2-G?

How about a bit of comity...when I lose they can tip me.

[MaxPen]

I've been told slot attendants make $70k a year because of tips and this would mean a drastic pay cut. I don't believe the government will give this money up willingly.

If people are tipping slot attendants for inconveniencing them with w2-g's then they're doing something wrong.

IMO if you are in a joint for a longer time and doing something in there on the regular, giving them $20 is worth it. IMO it isn't worth having them associate you in a negative light.

Agree. Only if what you're doing is something where employee discretion could come into play and be of benefit. Otherwise NOPE.

I'm against all that casino employee tipping bullshit and I don't ask for drinks. if I did request a drink I would tip for the service requested.

[mickeycrimm]

American Gaming Association supports raising the threshold.

“The antiquated slot tax threshold creates unnecessary burdens for consumers, casino operators, and the IRS,” said American Gaming Association President and CEO Bill Miller.

[accountinquestion]

IMO if you are in a joint for a longer time and doing something in there on the regular, giving them $20 is worth it. IMO it isn't worth having them associate you in a negative light.

Why not?

What, are they gonna spit on your W2-G?

How about a bit of comity...when I lose they can tip me.

There can be far more to it.

[Rob.Singer]

Is the $5800 figure arrived at by looking at inflation since $1200 was enacted or something? And as for tax revenue concerns (and barring certain circumstances) I would assume most regular, non-professional slot players/filers write all of their winnings off as losses on Schedule A anyway. Anyone involved in these proposals or decisions would know that.

Serious slot players don't tip attendants for simply doing their job by bringing them their cash won and/or w2g. Why anybody would give away a slice of their edge or lower their disadvantage is a gaming industry mystery, weaknesses aside. I agree there may be rare special considerations as stated above. I've tipped once in the last 24 years.

[jdog]

Nearly 90% of Americans take the standard deduction now so unless they got a lot of W2Gs, most average people would not benefit from doing Sch A.

[Dan Druff]

We see this proposed over and over, and it never happens.

I'll believe it when I see it.

If it does happen, yeah it will be great to be rid of those idiotic $1500 handpays where those leech attendants scoff at you if you hand them less than a $20.

[MisterV]

If it does happen, yeah it will be great to be rid of those idiotic $1500 handpays where those leech attendants scoff at you if you hand them less than a $20.

Easy way to shut the attendants down viz. tip-expectation:

Say you get a $5000 hand pay; tell the attendant to put some toward estimated taxes (I always do, but YMMV) and to pay you the remainder by check.

That way they won't count out some twenties when paying you, twenties they try to "guilt" a player into paying over to them as a tip.

With no cash readily available to tip, no tip should be expected.