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By: Xc

Xc — Sat, 01 Jun 2024 18:13:01 +0000

If they increase threshold from $1200 to $5800 a lot of people working in Slots Department will have no work. Less than 1% (percent) in casino playees will luckily hit jackpot more than $5k. If that happen only 10% workers needed. Those 90% will have no job. IRS also will lost a lot of tip taxes taken out from workers per hour.

By: Toni

Toni — Thu, 16 May 2024 20:40:42 +0000

This is a terrible idea. So many people would be out of work and this would result with an overwhelming amount of ppl depending on the government..

By: DBoogie

DBoogie — Wed, 08 May 2024 01:13:04 +0000

The real issue is table winnings are not taxed until they exceed $5000 so where is the equity? This rule stems from the days of the mafia in Vegas. Casinos in the 21st century make their money on slot machines so the rules should be adjusted accordingly. $1200 is just taxing the gamblers on the same money they came in the casino with anyway.

By: Slot player

Slot player — Mon, 10 Apr 2023 22:29:44 +0000

This is long overdue most gamblers lose money at the end of the year and w-2gs almost always result in more taxes paid regardless of how much you lose. Canada and Australia don’t even tax gambling winnings. Also, some casino patrons have self pay set up where they can already reset the slot machine on their own after a taxable jackpot and pick up their w-2gs later.

By: Hunter

Hunter — Tue, 28 Mar 2023 10:55:50 +0000

This is way overdue. $1200 back in 1977 would have felt like a huge jackpot. Today winning $1200 doesn’t feel like a true jackpot as in many cases $1200 or more was lost before you even won $1200 and it is taxed even though you are still down money. Bet increases have continuously gone up and most penny games now force you to bet minimum $1 and up to $10 or more is common where as back in 1977 such high bets didn’t exist and were less common.
As for the argument that many slot attendants will lose their jobs and or tips, you can still have handpays say at $1200 for penny games $1500 for quarters $2500 for dollars ect… but not have to fill in the paperwork and be taxed. Thats how it is done in Canada and Jackpots have never been taxed. That way Slot attendants can still be tipped and keep their jobs. Having Handpays creates excitement and encourages people to play as they see people winning.

By: Julia

Julia — Mon, 14 Nov 2022 02:55:14 +0000

Slot attendant isn’t the highest paying job in town, but it’s not like a restaurant server making under minimum wage and depending on tips (so let’s get that straight) – The patrons/gamblers are long overdue for changing of the threshold. No consideration should be given to employees of casinos (it’s not about them) – It’s about fairness due to inflation and that’s it. The gambler benefits, to some degree.

By: Boris

Boris — Sun, 09 Oct 2022 22:51:24 +0000

This is a great idea especially for gamblers. The IRS cripples’ gamblers at the end of the year just because of the $1200 dollar jackpot limit. For all the employees at casinos that rely on kickbacks from the customers on small jackpot winnings that is our decision as gamblers to give the kickbacks at all. Your job is to maintain the machines and distribute money. You don’t risk anything like regular gamblers do. It’s not like you’re going to give me $100 dollar bill when I am down and out of money at the casino. If you want to solve the problem reprogramming of the machines that way, they are designed to reach the jackpot limit easier of $5000. If these casinos are making billions of dollars each year and increase earnings yearly, I would assume that it would only be fair to account for this inflation. Let’s be honest there is a small percentage of people that win big at casinos just like at the lottery. Truth be told the casinos are extremely addictive they are designed to be this way. Casinos have ruined people’s lives more than they have helped people. The IRS have also ruined people’s lives more than they have helped people I guess that is why they get along so well. Truthfully the reason the casinos are so fun because their games are pretty fucking awesome. 7 out of 10 times when you enter the casino and take out $1000 dollars to play you are going to burn through that $1000 in less than 1.5 hours unless you hit those magical peak hours window on slots where all your max bets work. If we are getting fucked but the casinos let’s pass this increase to at least not get fucked by the IRS also at the end of the year when you are broke giving all your money to the casinos.

By: Katherine

Katherine — Tue, 12 Jul 2022 21:50:50 +0000

Thanks for finally writing about > 'SLOT Act' Seeks to Increase Jackpot IRS Threshold to $5K < Loved it!

By: Bonny

Bonny — Tue, 12 Jul 2022 15:01:02 +0000

Yes! Finally something about barslot.

By: donald

donald — Tue, 21 Jun 2022 15:18:09 +0000

I spend over that to try and win that !!! And if the machines were not so tight they would not have to worry about revenue !
This is long overdue not that I have ever won a Jackpot !!
I hope this passes !

By: Mm

Mm — Mon, 20 Jun 2022 18:56:57 +0000

They should change it because then you don’t have to wait on someone to pay you and stop your game great idea

By: Pansy

Pansy — Mon, 06 Jun 2022 08:53:11 +0000

Thanks for finally writing about > 'SLOT Act' Seeks to Increase Jackpot IRS Threshold to $5K < Loved it!

By: Clara Smith

Clara Smith — Thu, 28 Apr 2022 22:48:46 +0000

I think it is terrible that any employee has to rely on tips for their salary. After a patron pays for service they are not obligated to tip, but we do for what we consider “good” service or over and beyond. Casino workers should be paid by the owners, not the casino patrons. The casino makes a lot more than the people playing, so I feel a jackpot increase is overdue. And the casino workers should talk to owners about salary, not the patrons. I always tip but I don’t want to feel that I have to or that I’m contributing to someone’s salary. Your job should pay you a decent wage. It’s only fair

By: Yoandy Blanco

Yoandy Blanco — Wed, 13 Apr 2022 16:36:27 +0000

This will definitely affect the slot attendants. As mentioned before, the industry relays on tips and only 20% of total daily jackpots are over $5k. Hundred of thousand employees will lose their job or be obligated to find a second job to keep up with the monthly bills.

By: John

John — Fri, 25 Mar 2022 03:04:45 +0000

It’s about time and this should only be the first step of changes to the tax code so that people are only paying taxes on true profits for the whole year!!
Why do you have to itemize to claim gambling losses???
Because the rotten government wants to tax you on jackpots that are not really profit by years end!!!

By: Harry

Harry — Tue, 22 Mar 2022 19:33:17 +0000

Is there any idea when this law will be put emplace?
Do you really think the IRS will allow $1200 to $5000 and miss out on the $3800 in bewteen charted Tax money after giving money out for the last 2 years ?
What happens to all the clerks who work in slots who depend on tips for a living ? 25,000 jobs just throw into the garbage across the USA ?

By: Amy

Amy — Thu, 17 Mar 2022 17:36:33 +0000

No one should have to report gambling winnings because everyone gives their so-called “winnings” right back. No one wins at gambling It’s a terrible addiction and very dangerous.

By: Brian

Brian — Tue, 15 Mar 2022 17:44:34 +0000

$1,200 in 1977 is equivalent to $5,618.14 in 2022. This is a no brainer.
https://www.usinflationcalculator.com/

By: Sam

Sam — Mon, 14 Mar 2022 01:10:15 +0000

As a slot attendant this would destroy our income. Sunday, for example, only 109 jps and only 5 of those were 5k or more. We rely on tips for our wages! Poker machines pay 4k on royal and 4 of a kind so this would eliminate our regulars there. It would also decrease the amount of jobs due to less jackpots. The state, local, federal taxes that are generated would drop tremendously as well. This would be life changing in a bad way for many workers like myself who have been in the industry for years. Myself almost 10. Also, with not much time to prepare as the cost of everything is going up and this would diminish our income dramatically. As it is we work very hard and many don’t tip. 10k plus and no tip. Newbies who don’t tip causing us to rely on regulars who tip and happen to win. With little to no time to even attempt to find anothr job that supplies a similar income, the bills don’t stop for us and our families. In a industry that makes so much money but doesn’t share it, rather make us depend on people to tip generously which only happens for regular frequent players. 5k is an extreme jump and while if it were to change to perhaps 2k or 2500 that would also effect us but far less. Again out of 109 jps only 5 were 5k or more. 5 jackpots.

By: Tim

Tim — Mon, 07 Mar 2022 17:15:48 +0000

First world problem
Legalize pot first

By: Margarito S Banuelos

Margarito S Banuelos — Mon, 07 Mar 2022 06:27:25 +0000

Its good for everybody how can someone justify a 1200 jackpot when somebody like me lose 1000 and then 5 minutes later hit a jackpot which i only won 200 because the other 1000 are mine the way it is rightnow its a terrible injusticia law change it

By: Tim

Tim — Mon, 07 Mar 2022 02:52:52 +0000

No, They would not need to put slot dept, cashier’s out of work, Hopefully they could actually take care of the slot players like giving change not wait 20 minute for attendant to show up when requesting either machine is malfunction and not working or money is jammed and payout in a quick time frame.

By: Chris

Chris — Sun, 06 Mar 2022 23:49:13 +0000

It should be adjusted on the sole merit of inflation…1200 in 1977 is not the same as 1200 in 2022…. Cost of living increase maybe?

By: Dina Titass

Dina Titass — Fri, 04 Mar 2022 10:15:17 +0000

So Dina Titus is looking to put a lot of her registered voters out of work? Slot dept, cashiers, accounting will all be cut back even further.

By: Tina Sharma

Tina Sharma — Fri, 04 Mar 2022 09:06:45 +0000

Thank You for giving this information.