AGA appeals for reform of jackpot tax reporting threshold
The American Gaming Association (AGA) has urged the US government to raise the slot jackpot reporting threshold, which requires machines to be temporarily taken out of production while large jackpot winners complete a tax reporting form.
The threshold is currently set at $1,200, above which a player must complete the W2-G form, as has been the case since it was introduced in 1977.
Bill Miller, president and chief executive of the American Gaming Association, said raising the threshold was particularly important as casinos across the US reopen following the novel coronavirus (Covid-19) pandemic, which caused all casinos across the country to close.
“As the gaming industry safely reopens and seeks to return to financial health, one critical area of regulatory reform the administration should consider is modernizing the $1,200 slot jackpot reporting threshold, which has been in place since 1977,” Miller said.