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Commentary on Proposed W2G Change by Eliot Jacobson PhD

The IRS is seeking feedback on a proposed change in their regulations that would change the win threshold for generating a W2G from $1200 to $600 for slot and video poker wins. You may not know that many slots have jackpot amounts of $1199 just to avoid this W2G problem. Players who win big rarely keep printed logs of their play to offset their W2G wins against their undocumented losses. Off the top of my head, this proposed regulation will slow down the games, increase the casino’s labor costs, require the remodeling of some slot machines and discourage gamblers from playing at higher levels or playing higher volatility games.

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