Quick Fact – Accounting Shift


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1Dunes, Las Vegas, NV 1970s CR 72 dpi SM964

The Dunes in Las Vegas, Nevada switched from writing off unpaid IOUs to claiming them as income, allegedly to keep Internal Revenue Service agents from harassing its customers — asking guests in the hotel if they paid what they owed.

On its fiscal 1965 income tax return, the hotel-casino reported as income $1.3 million (about $7.2 million today) in markers it considered uncollectible. 

Photo from the University of Nevada, Las Vegas’ University Libraries

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