IRS is Coming For Your Casino Winnings

06.04.2015 | News | Jerome Hudson |

Apparently, forcing you to purchase health insurance isn’t bringing in enough cash for daddy government. And the feds seem to be running out of brand new ways to rob taxpayers as a means to fund an oversized bureaucracy, so in the meantime its looking at changing some old rules.

The IRS currently requires that you report any jackpot earnings over $1,200 or more for federal income-tax purposes. But the tax collecting agency now says it wants to lower that number to $600.

The IRS is fielding a flood of criticism from Americans and The American Gaming Association, which lobbies on behalf of casinos and device manufacturers.

Sen. Dean Heller, R-Nevada, also blasted the IRS’ proposal Tuesday during a hearing with the IRS director.

Of course the IRS has declined to comment.

A public hearing in Washington, D.C., has been scheduled for June 17.

Jerome Hudson

Managing Editor

Jerome Hudson has written for numerous national outlets, including The Hill, National Review, and The Atlanta Journal-Constitution and was recognized as one of Florida’s emerging stars, having been included in the list “25 Under 30: Florida’s Rising Young Political Class.” Hudson is a Savannah, Ga. native who currently resides in Florida.

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