#W-2Gs

Review Journal

Dina Titus optimistic slot machine jackpot tax threshold bill will succeed

Rep. Dina Titus, D-Nev., plans to take another swing at an archaic tax formula involving slot machine winnings by raising the reporting threshold. Whenever a slot player wins a jackpot of more than $1200, the operator - a casino, tavern, restaurant or convenience store, or even airport personnel - are required to prepare a W-2G form that reports…
Law
Review Journal

Nevada lawmaker optimistic slot machine tax threshold bill will succeed

Rep. Dina Titus, D-Nev., plans to take another swing at an archaic tax formula involving slot machine winnings by raising the reporting threshold. Whenever a slot player wins a jackpot of more than $1200, the operator - a casino, tavern, restaurant or convenience store, or even airport personnel - are required to prepare a W-2G form that reports…
Law
Nevada lawmaker optimistic slot machine tax threshold bill will succeed
Super Slots
The Motley Fool

Winner Winner: If You Gambled and Won Last Year, the IRS Needs to Know About It

Gambling winnings can result in a higher tax bill, but there's more to the story. If you won money gambling in 2022, you may receive a Form W-2G in the mail. Casinos and other gaming establishments are required to issue these forms for wins above a certain amount. You might be able to reduce or even eliminate your taxes on gambling winnings using a…
Law
Winner Winner: If You Gambled and Won Last Year, the IRS Needs to Know About It
Recent Slot Releases

What You Need to Know About Gambling and Your 2021 Taxes

The deadline for filing 2021 federal tax returns looms on April 18 this year and for gamblers, it's an occasion to be reminded of how the tax code addresses their gaming activity. Generally speaking, that's not too kindly. The bottom line is simple and stern. As a rule, all income from gambling - including real money online casino play - must be…
Finance
What You Need to Know About Gambling and Your 2021 Taxes
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Vegas Inc

Updating jackpot threshold would be a win-win

A proposal to raise the threshold at which gamblers must report their slot winnings isn't going to make or break Las Vegas, but it would offer a bit of help for the Nevada economy at a time when we really need it. Gaming industry experts say they're optimistic that Congress will act soon on the proposal, which would increase the current level of…
Winnings
Updating jackpot threshold would be a win-win