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Although we caution readers not to try this at home. Online Casino Update: Editors apology. No mice were harmed in this study as only rats were used. Online Casino We understand that “mice”and “rats” are not interchangeable and apologize if anyone was offended. Only about 90% of rat genes have counterparts in the mouse and human genomes. Mice are mice and rats are rats. Online Casino Dear Mark: If the automatic W2-G reporting on a slot machine is for a jackpot of ,200, does that hold true for higher-denomination machines as well?

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Bill W. Yes, Bill, and it may get worse. The IRS is now floating a plan for a bigger share of your jackpots: the meager ones. Online Casino At present, the fortuitous player winning a ,200 jackpot will finonline casino australia no deposit sign up bonusd that the machine automatically shuts down until a casino employee arrives with your W2-G. Online Casino Earlier this year, as part of an expansive rewrite of gambling tax law, the IRS put forward the idea of lowering the mandatory reporting minimum for slot machines to 0. Uncle Sam figures that since, by law, gamblers must pay taxes on every dollar they win at casinos, bingo parlors, racetracks, even an informal football bet with Uncle Louie, the IRS might as well capture more with a lower jackpot threshold. Those 0 jackpots will not only trigger a tax form, but if you play another hour or two, your taxable winnings will probably be long gone by the losses you incur, and your tax liability will still be outstanding. Online Casino

A reportable jackpot may not even offset your losses from when you sat front-and-center on that same machine one hour prior. Online Casino Australia Online X No Deposit Bonus Free Spins Eqcu Certainly, Bill, you can keep track with meticulous records of your losses to offset any winnings, but few, if any, casual gamblers do. Online Casino Personally, I do not support, or expect, the 0 reporting threshold to make it into any final ruling. Online Casino If anything, I believe the W2-G limit should be raised to at least ,500. I will keep you abreast, Bill, of any change to the gambling tax law. Online Casino Live Blackjack Evolution Gaming Dcmv Dear Mark: Longtime reader, first time writing in. I am going to Las Vegas in October – my first trip – for the World of Concrete convention at the Las Vegas Convention Center. Online Casino

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With thousands of machines on the floor, it is not cost-effective for casinos to vary the payouts on weekends, holidays, and yes, Marv’s concrete convention. Unquestioning tourists are safe, for now. Online Casino As for the hold percentage averages for the Las Vegas Strip, they are approximately 11 percent for nickels, 6-7 percent for quarters, 4 percent for dollars and 3. Online Casino 5 percent for five dollars and above. Casino Near Me Davenport Iowa Gambling Wisdom of the Week: “How the IRS views Online Casino