IRS Machine Threshold Change

Maybe y'all don't read the Vegas News section of LVA, as I've seen no comment.  Me, I'm glad to see it is official, the machine threshold for issuance of a W-2G is now $2000, up from the decades long $1200.  

Candy

Saw that........won't start until 2026, but that was a nice jump from $1200.   Wife and I have never had a handpay over 2 grand. 

That's too small an adjustment. If you use the Consumer Price Index for comparison purposes between the year when the threshold was first imposed and 2025, today's equivalent of $1200 is more like $5000, so that's what it should be.

Of course, that's a moot point for us honest gamblers, as we report ALL our winnings, W2-G or not. Hecky darn, a couple o'weeks ago, I found a nickel on the sidewalk, and I immediately mailed the IRS a penny.

How self-righteous of  you, Mr. Glass Half Empty.  That penny may have jammed up the whole USPS mail sorting system...LOL.  

I agree, not nearly enough of an increase, but I'm surprised it went through. 

Candy

Yup, any increase is better than no increase.  

 Apparently some people would rather complain than acknowledge that President Trump did what no other President did for decades. 

The original proposed threshold was indeed $5000, but Trump pressured the IRS to reduce it. That was coincident with the infamous 90% of losses move.

It seems that Trump hates gamblers. Kind of odd, for someone who blew through his first $350 million building casinos and bankrupting them.

   Everything you post here is a lie. Post a link to what you claim.

As a $0.50 video poker player, I'm underwhelmed with the higher limit.

That was my initial reaction as well. Since the threshold should have increased by $3800 but actually went up by $800, you can't even call it a quarter measure, let alone a half measure.

I can't help but wonder how much money a reduced number of W2Gs with the higher threshold would save the IRS, especially as earlier this year, their staffing levels were trampled by a runaway berserk Musk ox.