118th Congress · HOUSE BILLBILL

H.R. 3125 — To amend the Internal Revenue Code of 1986 to increase the information reporting threshold for slot winnings.

“To amend the Internal Revenue Code of 1986 to increase the information reporting threshold for slot winnings.”

Taxation

Introduced May 5, 2023

Last action May 5, 2023

Pipeline · Bill → Law

Step 1

Introduced

May 5, 2023

Step 2

Referred

May 5, 2023

Ways & Means

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill provides that no tax information return for winnings from one slot machine play shall be required unless the winnings are at least $5,000 (without reduction for the amount wagered). This threshold amount is adjusted for inflation for calendar years beginning after 2024.

Provisions · 1 sectionsIntroduced in House

Timeline · 2 actions

May 5, 2023

Introduced in House

May 5, 2023

Referred to the House Committee on Ways and Means.