The term “slot machine” means a device that, by application of the element of chance, may deliver, or entitle the person playing or operating the device to receive cash, premiums, merchandise, or tokens whether or not the device is operated by insertion of a coin, token, or similar object. However, the IRS only requires the casinos to report wins over $1,200 on slots and video poker machines or other games such as keno, lottery or horse racing. When you have a win equal to or greater than $1200, you are issued a W-2G form. This form lists your name, address and Social Security number.
This year, America Saves Week (ASW) runs from February 24 through 29. The week is an opportunity for organizations to promote good financial habits. It’s also a great time for people to assess their own saving status, as planning and saving are key to a successful retirement.
ASW is the perfect time to promote our shared mission of helping millions of people prepare for their future. Join the #ASW20 movement by using this hashtag when posting about your savings goals.
It’s never too early to start planning for your retirement. Set a goal, make a plan, and save automatically. Savers with a plan are twice as likely to save successfully. Pledge to save for America Saves Week.
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To help you with your retirement saving goals, we have many tools for retirement planning. You can access our online information and resources on our website.
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It’s never too late for you to begin saving. Younger workers may think they have time to put off saving for their future, but the sooner they begin, the more their money can grow. Our website for young workers has resources that can help you secure today and tomorrow.
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