LAS VEGAS (KLAS) — A major win for gamblers raises the jackpot reporting threshold to $2,000 next year, officials confirmed this week.
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For gamblers accustomed to the $1,200 threshold for slot machine jackpots, it’s big news. Slots that lock up while the player waits for hand-paid winnings — along with a requirement to report winnings to the IRS — often mean a 20-40 minute wait. It also brings a lot of paperwork for the casino.
But now a change tucked away in the “One Big, Beautiful Bill” that passed on July 3 will update the threshold…