IRS Confirms Higher Jackpot Reporting Threshold Starting 2026
The Internal Revenue Service has formally confirmed that casinos will begin reporting certain gambling winnings only once they reach $2,000, marking a significant update to long-standing federal tax rules. The adjustment, which takes effect on January 1, 2026, follows months of confusion after Congress passed the One Big Beautiful Bill Act of 2025, legislation that […]
The Internal Revenue Service has formally confirmed that casinos will begin reporting certain gambling winnings only once they reach $2,000, marking a significant update to long-standing federal tax rules. The adjustment, which takes effect on January 1, 2026, follows months of confusion after Congress passed the One Big Beautiful Bill Act of 2025, legislation that […]
