Las Vegas Strip: IRS Updates Slot Machine Tax Rules
Friday 18 de July 2025 / 12:00
⏱ 2 min read
(Las Vegas).- US President Donald Trump's tax bill only allows gamblers to deduct 90% of their gambling losses, meaning they could have to pay taxes on money they actually lost.
That makes the loss even worse and, in theory, ruins things like casino loyalty programs. Few gamblers are going to sign up to have their play tracked if it means that they might end up owing taxes on money they did not win. It's hard to imagine an IRS that can actually keep track of how much money people have gambled. Doing so would mean bringing in forms and tracking play not just in the United States, but on cruise ships around the world.
Right now, gamblers are supposed to pay taxes on anything they win. In reality, nobody reports a win to the IRS if they do not have to.
Currently, you only have to report a win when you exceed certain thresholds. The most famous one of those is when you hit $1,200 or more playing slot machines.
When that happens, your machine freezes and somebody from the casino has to walk over and collect your personal information. They use this to fill out a tax form in order to report your winnings to the IRS.
The hand-pay threshold has not gone up in decades Slot players have had to get a tax form for a hand-pay at the $1,200 rate since 1977. The number has not increased by a single dollar, even though Congresspeople, generally representatives from states that have casinos, have tried to get the limits lifted.
That's not just a question of taxes. In theory, gamblers owe taxes on any winnings, since they count as income even when no form has reported them to the IRS. On a practical basis, however, you have to imagine that few people are honest enough to pay taxes on wins the IRS knows nothing about.
Categoría:Slots
Tags: Sin tags
País: United States
Región: North America
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