Slot W2G threshold increased to $2,000

[DGenBen]

It looks like the slot jackpot threshold is going to be increased to $2,000 and then indexed to inflation starting in 2026.

https://www.casino.org/news/one-big-...-for-gamblers/

[Don Perignom]

I'd like to see further confirmation of that.

[Don Perignom]

https://www.congress.gov/bill/119th-...se-bill/1/text



Does anyone here speak jive?

[Don Perignom]

6041A:

https://irc.bloombergtax.com/public/.../section_6041a

[DGenBen]

https://www.congress.gov/bill/119th-...se-bill/1/text



Does anyone here speak jive?

What it is big momma? My momma didn’t raise no dummies I dug her rap!

[Don Perignom]

Here's the IRS (Treasury) regulation:

https://www.ecfr.gov/current/title-2...tion-1.6041-10

(The IRS is an agency of the Treasury Department.)

Notice it has varying thresholds: (A) $1200 for bingo, (B) 1500 for keno, (C) 1200 for slots.

What about the keno threshold? Does it increase from 1500 to 2000?

I'm not getting the connection between the BBB legislation and gambling.

[DGenBen]

Here's the IRS (Treasury) regulation:

https://www.ecfr.gov/current/title-2...tion-1.6041-10

(The IRS is an agency of the Treasury Department.)

Notice it has varying thresholds: (A) $1200 for bingo, (B) 1500 for keno, (C) 1200 for slots.

What about the keno threshold? Does it increase from 1500 to 2000?

I'm not getting the connection between the BBB legislation and gambling.

Good questions.

All I know is that there are multiple news stories online about the threshold being raised.

Don’t know the technical details but hopefully the media did better reporting on this topic then they do in general.

Edit, looks like a more detailed article about it on Druff’s other site.

https://pokerfraudalert.com/forum/sh...Current-status

[Don Perignom]

Is it possible the legislation actually impacts 1099s rather than W2Gs?

https://www.avalara.com/blog/en/nort...threshold.html

1099s currently are set at $600, matching the verbiage of the legislation. You get a 1099 for drawing wins and poker tourneys imo.

These days I usually receive free play for drawing wins, which sidesteps the reporting.

[theywontpayontuesday]

Something has to change or the casinos go under in 2026. Dumb money leaves bad machines and bad consequences before smart money like APs. The ecosystem will be destroyed.

[Don Perignom]

Something has to change or the casinos go under in 2026. Dumb money leaves bad machines and bad consequences before smart money like APs. The ecosystem will be destroyed.

Well that escalated quickly.

[Don Perignom]

Shot down by Vital Vegas (they/them):

Embedded Tweet

https://twitter.com/#!/x/status/1945223226721726912

[DGenBen]

Hard to imagine that they would change the tax code and not be able to clearly and simply explain what the change is.

Its almost as if they want to make the tax code so confusing that ordinary people can’t figure it out & don’t know whether a change is good for them or bad for them so they don’t know which politicians to hold accountable for any negative changes as they won’t even know what the net impact is on their taxes until way down the road and even then they won’t know which party or specific politicians were responsible for that specific change & by then they would have forgotten about it anyway and just blame whichever party they don’t like.

[mickeycrimm]

It'll go up to $2100 in 2027 then sit there for years because the cost of living index goes up only a few points a year. It'll take a lot of years for it the threshhold to jump over $2100....where it will then be rounded up to $2200.