The Internal Revenue Service Advisory Council has added its support to the effort to raise the $1,200 slot tax threshold.
When slot machines were only available in Nevada, the $1,200 jackpot threshold was introduced in 1977. These days, there are very few states without legal slot machines.
The US organization in charge of collecting federal taxes was advised by the IRS Advisory Council in November to raise the slot machine jackpot trigger to $5,800.
When slot machines were only available in Nevada, the $1,200 jackpot threshold was introduced in 1977. These days, there are very few states without legal slot machines.
The US organization in charge of collecting federal taxes was advised by the IRS Advisory Council in November to raise the slot machine jackpot trigger to $5,800.