The Tax Man Cometh!
Published: Wednesday, July 02, 2008 Online-Casinos.com
THE TAX MAN COMETH
New state laws to recover overdue taxes
Pay your taxes or forfeit your gambling winnings is the essence of new state laws in Iowa and Colorado that came into effect this week.
The laws are the first of their kind in the U.S., reports Stateline.org, a Washington news website. The Iowa measure targets residents who are delinquent on tax payments and who win at least $10 000 from casino slot machines or at racetracks. Their winnings will be seized to pay back taxes, court debts and other expenses.
In Colorado, meanwhile, deadbeat parents are in the cross hairs. There, the state has introduced a first-of-its-kind law targeting those who are behind in their child support payments, demanding winnings from slots of more than $1 200 and from racetracks of more than $600.
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