Leaders of Congress, including Dina Titus (D-NV) who have been requesting from the Internal Revenue Service (IRS) to increase the tax reporting limit on jackpots from slot machines for almost a decade, have received some welcome support from an uncommon source, the agency’s Advisory Council. Rising the threshold: In a ruling in November 2023, the aforementioned IRS Advisory Council commented that the threshold amount must be lifted from $1,200 to $5,800, which represents an additional $800 over the amount requested […]

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