§ 1505 Gaming Machine Jackpot Tax

The withholding rate is 5 percent Reporting is required for slot machine winnings of $1,200 or more and pari-mutuel winnings of $600 or more, provided that the

In most cases, the casino will take 25 percent off your winnings for the IRS before even paying you Not all gambling winnings in the amounts above are subject

white rabbit slot taxable income to you * In most cases if you have casino winnings or a money received from

dragon power slot machine Under the current IRS policy, slot machine jackpot winnings of $1,200 or more require a W-2G tax form However, this threshold has not been