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Proposal to Lower Threshold for When Gambling Winnings Must Be Reported Dropped

The IRS has decided to forgo a proposal that would have required casinos to collect and file tax information on winnings of $600 or more on slot machine and video lottery jackpots. The decision means that the current regulations - which require winnings of $1,200 on a slot machine to be reported to the agency - will remain in place.

Read more in the Cleveland Plain Dealer.

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