Raising the maximum amount that a player at a slots machine can win before a casino issues a W-2G filing form requiring the player to report the winnings as taxable income has the support of the top IRS official.
When a player wins $1,200 or more on a slot machine, the payer or casino is required by current federal law to give the player a W-2G form. Since its introduction in March 1977, the jackpot threshold has stayed fixed at $1,200.
When a player wins $1,200 or more on a slot machine, the payer or casino is required by current federal law to give the player a W-2G form. Since its introduction in March 1977, the jackpot threshold has stayed fixed at $1,200.