For the uneducated: the W2's he's referring to is W2-G's. If a jackpot of $1,200 or more is won, the casino is obligated to report it to the IRS and the winner is obligated to pay taxes on that jackpot. These W2's have nothing to do with payroll or a high turnover rate of employees.
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Posted by
luvs2bsilly
on 02/11/2011 at 9:17 AM
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Re: “The Little Casino That Could?”
For the uneducated: the W2's he's referring to is W2-G's. If a jackpot of $1,200 or more is won, the casino is obligated to report it to the IRS and the winner is obligated to pay taxes on that jackpot. These W2's have nothing to do with payroll or a high turnover rate of employees.