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

HR 3125 raises the IRS reporting threshold for slot machine winnings from $1,200 to $5,000 per single play. This means casinos and other businesses operating slot machines no longer need to report winnings under $5,000 to the IRS for individual plays. The $5,000 threshold will automatically adjust annually for inflation starting in 2025. The bill affects casinos' reporting obligations but does not change tax liability for gamblers. It becomes effective for winnings after December 31, 2023.