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Standard Summary
Comprehensive overview in 1-2 paragraphs
This bill increases the IRS reporting threshold for slot machine winnings from $1,200 to $5,000.
Key Points
- 1Raises reporting threshold for slot machine winnings to $5,000
- 2Includes annual inflation adjustments starting in 2026
- 3Applies only to winnings from single slot machine plays
- 4Maintains existing rules for other gambling winnings
- 5Amends Section 6041 of the Internal Revenue Code
Impact Areas
Casino operatorsGamblersInternal Revenue ServiceTax reporting compliance
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