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Raising the Tax Reporting Threshold for Slot Machine Winnings to $5,000.

This bill increases the amount of slot machine winnings (per single play) that must be reported to the tax authorities from the current level to $5,000. This change reduces paperwork for both players and casino operators, as smaller winnings will no longer require automatic reporting. The new threshold takes effect on January 1, 2024, and will be adjusted annually for inflation.
Key points
The mandatory reporting threshold for slot machine winnings is increased to $5,000 per single play.
The change applies to payments made after December 31, 2023.
The $5,000 amount will be automatically adjusted for inflation starting in 2025 to maintain its real value.
Smaller winnings will not require automatic reporting by casinos, simplifying procedures for players.
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Additional Information
Print number: 118_HR_3125
Sponsor: Rep. Titus, Dina [D-NV-1]
Process start date: 2023-05-05
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To amend the Internal Revenue Code of 1986 to increase the information reporting threshold for slot winnings.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_3125.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-05-05.

What are the main provisions?

Key points include:

  • The mandatory reporting threshold for slot machine winnings is increased to $5,000 per single play.
  • The change applies to payments made after December 31, 2023.
  • The $5,000 amount will be automatically adjusted for inflation starting in 2025 to maintain its real value.
  • Smaller winnings will not require automatic reporting by casinos, simplifying procedures for players.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Titus, Dina [D-NV-1].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-30.

CATEGORIES

Taxes Economy