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Gambling Wisdom of the Week: “Whenever you switch from Deuces Wild to Jacks-or-Better, the first four of a kind will be Deuces. Uncle Sam figures that since, by law, gamblers must pay taxes on every doonline cas ino usa real money cyltllar 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.The slot machines consisted of four arms....

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So yes, I do buy into your belief that your typical Gen Xer is unaware of what WE had before corporate monetized every square inch of a casino property.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. One arm was set as low-risk/low-reward (L-L), giving lots of little wins, like Derby Dollars from RTG....

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” A eureka thought if ever there was one. I hope that your above commentary finds its way onto their 4-inch iPhones, because as you state, correctly, it seems to be happening everywhere.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? Bill W....

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S. The IRS is now floating a plan for a bigger share of your jackpots: the meager ones. One arm was set as low-risk/low-reward (L-L), giving lots of little wins, like Derby Dollars from RTG....

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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. The other two turns gave them a nasty tasting quinine pellet.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....