Adjusted for inflation, that amount would be $5,000 today.Ĭurrently, a jackpot win of $1,200 or more requires the casino or business to shut down a machine and demands IRS paperwork for the winning customer, Titus said. Titus said the current threshold was set in 1977.
Guy Reschenthaler, R-Pa., would raise the $1,200 trigger for reporting winnings to $5,000 instead. Baskow/Las Vegas Review-Journal) - Citing inflation, the Congressional Gaming Caucus filed a bill Thursday to raise the threshold when gamblers are required to report their slot machine jackpot wins to the Internal Revenue Service. The Congressional Gaming Caucus filed a bill Thursday, March 3, 2022, to raise the threshold when gamblers are required to report their slot machine jackpot wins to the Internal Revenue Service. A guest plays a slot machine with others nearby at Red Rock Casino on Tuesday, Dec.
