Nevada treasury urged to increase reporting threshold on casino winnings

(PRESS RELEASE) -- Today Representative Dina Titus of Nevada’s First Congressional District sent a bipartisan letter with Representative Darin LaHood of Illinois’s Eighteenth Congressional District to U.S. Department of the Treasury Assistant Secretary for Tax Policy David Kautter. The letter urges the Treasury Department to use its authority to raise the threshold for reporting slot and bingo winnings.

The current threshold “causes excessive burden to the gaming industry, a main economic driver in our districts,” said Reps. Titus and LaHood. “When a player hits the jackpot on a slot machine above the $1,200 threshold, the machine locks up and stops play . . . Raising the threshold would reduce the paperwork burden on businesses and players while ensuring the tax code reflects current economic realities.”