Taxes on Lottery & Gambling Winnings: What You Need to Know

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You see, if you win $1200 or more on a slot machine in a single play, the casino is obliged to issue a W9G and

First some background about the evil IRS regs that plague gaming Did you know that if you made a $5 wager on a video slot machine game, and you When it comes to slot machines, winning an amount over $1,200 will trigger a tax form The payer, such as a casino, has to furnish the winner

vintage afx slot cars for sale For instance, if you win $1,200 or more on a slot machine or bingo, or $1,500 or more on keno, your jackpot will be subject to a flat tax rate of 24%  This tax applies to various forms of gambling winnings, including money won from slot machines, table games, and even game shows While this