What does Preamble of SLOT Act of 2025 do?

This bill proposes to amend the Internal Revenue Code of 1986. The stated purpose is to increase the information reporting threshold for slot winnings.

What does SHORT TITLE. of SLOT Act of 2025 do?

This bill is formally titled the 'Shifting Limits on Thresholds Act of 2025'.

What does REPORTING THRESHOLD FOR SLOT MACHINES. of SLOT Act of 2025 do?

This section amends Section 6041 of the Internal Revenue Code of 1986 to establish a reporting threshold for slot machine winnings. Returns are not required for slot machine winnings unless the winnings from a single play are at least $5,000. This $5,000 threshold will be adjusted for inflation annually starting in 2026, using the cost-of-living adjustment determined under section 1(f)(3). The inflation adjustment will be rounded to the nearest multiple of $100.

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SLOT Act of 2025

Last updated: 3/18/2025 · Introduced: 3/18/2025

Author: Dina Titus (D-NV)

TL;DR (AI)

The bill increases the reporting threshold for slot machine winnings to $5,000 or more from a single play.
The $5,000 threshold will be adjusted annually for inflation starting in 2026, using the cost-of-living adjustment determined under section 1(f)(3).
Returns are not required for slot machine winnings below the established threshold, which will be rounded to the nearest multiple of $100 after inflation adjustment.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 1 more.

3 sections

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