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Document Type

Original Research Article

Abstract

The gaming industry is currently experiencing rapid growth. Because of this growth and the perception that gaming companies are highly profitable, some fear that regulators may be targeting the gaming industry as a potential tax revenue source. The purpose of this paper is to provide an update on current tax issues facing the gaming industry and to present the positions of the gaming industry and the IRS with respect to these issues. Specifically, the following topics are discussed: 1) tip compliance, 2) cash transaction reporting, 3) tournament reporting and withholding rules, 4) complimentaries, 5) employee meals and cafeterias, 6) outstanding chips and tokens, 7) marker discounts, and 8) high denomination slot win reporting. Key Words: Gaming, Taxes, Regulatory Interest, IRS


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