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Titus Requests Increase in Slot Machine Reporting Thresholds

MAY 9, 2017

Titus Requests Increase in Slot Machine Reporting Thresholds

DATED MAY 9, 2017
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May 9, 2017

 

The Honorable John A. Koskinen
Commissioner - Internal Revenue Service
U.S. Department of the Treasury
1111 Constitution Avenue, NW, Room 3241
Washington, DC 20224

Dear Commissioner Koskinen,

Thank you for working with me on the proposal submitted by the Internal Revenue Service (IRS) regarding reporting thresholds for winnings from bingo, keno, and slot machine play. I appreciate you taking the time to meet in my office to discuss the perspectives of my constituents on the proposal. Following our meetings and your outreach to stakeholders, I believe that the IRS correctly recrafted the previous regulations to reduce paperwork burdens for both casinos and patrons.

As we discussed in our meeting, I believe the threshold for some gaming winnings (currently set at $1,200) should be raised. As you know, this threshold was first established in 1977 and has not been updated since then. If indexed to inflation, the current threshold would be $4,800. Raising this threshold will further reduce the paperwork burden on businesses and players, while ensuring the tax code reflects current economic realities.

I respectfully request that you consider raising this threshold and tying it to inflation through additional regulations. If you are unable to make this change through regulation, I look forward to working with you to draft legislation to effect this through changes in the United States Code.

Thank you for your consideration and attention to this issue.

Sincerely,

Dina Titus
Member of Congress

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