This Act may be cited as the Shifting Limits on Thresholds Act of 2025 or the SLOT Act of 2025.

(a) In general Section 6041 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection: (h) Slot machines (1) In general No return shall be required under subsection (a) in the case of a payment in the course of a trade or business of winnings from one slot machine play unless the winnings from one such play are at least $5,000 (without reduction for the amount wagered). (2) Inflation adjustment In the case of payments in any calendar year beginning after 2026, the $5,000 amount in paragraph (1) shall be increased by an amount equal to— (A) such dollar amount, multiplied by (B) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting 2025 for 2016 in subparagraph (A)(ii) thereof. If any increase determined under the preceding sentence is not a multiple of $100, such increase shall be rounded to the nearest multiple of $100.. (b) Effective date The amendment made by this section shall apply to payments after December 31, 2025.