Bill > HR2233

This bill amends the Internal Revenue Code to increase the reporting threshold for slot machine winnings from the current level to $5,000, meaning that casino operators would no longer be required to file tax forms reporting slot machine winnings unless a single play results in $5,000 or more in winnings (not reduced by the amount wagered). The bill includes an inflation adjustment mechanism that will automatically increase this threshold each year after 2026 based on the cost of living, with any increases rounded to the nearest $100. This change is intended to reduce administrative burden on casinos and simplify tax reporting for smaller slot machine wins. The new reporting threshold will take effect for payments made after December 31, 2025, giving businesses time to prepare for the change. By raising the threshold, the bill aims to streamline tax reporting requirements for gambling establishments while maintaining reporting requirements for more significant winnings.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/2233/all-info