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I know because some of you have won even bigger jackpots while playing slots. As the floor manager and slot attendant walked away after the hand pay, they began walking by me. There is another aspect to accepting a lot of cash you should probably be aware of. That is if your plan includes requesting some or all your taxable jackpot in cash. I was testing to see if it was a winning slot machine. For them, any gambling income from their annual visits to U. If you keep good gambling records, it usually works out well to choose to not pay federal taxes. Are you ready to win a thousand-dollar slot machine jackpot? Slot attendants are great. And, after the hand pay, I had trouble deciding what to do next. What about the remainder? Are you sure? I called out to him, to explain. Get My Free Report Revealing…. How he handled a big jackpot reminded me of what it was like. Ask questions. You can choose to walk away. Or, was my plan of gambling all day ruined? Make friends, if you can. What do you do with it? The danger of not keeping gambling records is having to pay income taxes when avoiding them, or getting a refund later, was entirely possible. Nevertheless, I thought you should know about the CTR. That was embarrassing. Do you know that look? Should I stick to the plan I had had in mind? I won it early on Saturday, December 21, , at a. The machine locks up. Basically, you need a plan in case you win a taxable jackpot. I was checking to see if I could cycle my bankroll on this slot machine. Keep gambling records just in case you win a big jackpot. You do have another choice to make, however. Do you ask the casino to provide a brown paper bag, perhaps? Thank me later. You can always choose not to accept a taxable jackpot. Have fun, be safe, and make good choices!{/INSERTKEYS}{/PARAGRAPH} {PARAGRAPH}{INSERTKEYS}Are you ready? He kept walking, now with a frown. I looked down, saw the 2,credit hit, looked up at the floor manager looking at me, and swore. Apparently, as usual with income taxes, what to do is very individualized. Just ask yourself this simple question. Someone else shows up to verify the jackpot. Right about then, 30 seconds after the slot machine hit, I basically went into shock. Once again, make sure you have a plan in case you win. Can you imagine how I was feeling? In part, it monitors and analyzes financial transactions for illegal transactions. I was just trying to be helpful. You win a jackpot. Treasury Department. Will you leave the casino or will you make a night of it? I imagine you know what happened next. One final note about getting home. I always remember how upset this taxable jackpot winner was whenever I work with a slot attendant. This includes financial crimes related to money laundering and corruption. Unlike me, try to remember where you parked your car. Make yourself a plan. So, I wrote this article so you can do better than I did and perhaps as well as Richard if you won a large taxable jackpot. To be ready, think it through in advance. Tip 2: This is your chance to meet a floor manager. My lack of concern here hinges on understanding that big jackpots generate a W-2G tax form when won at a casino. So far, this is my largest jackpot won playing slot machines. Anyway, they looked both nervous and like they wanted to go. I swore right while looking the floor manager in the eye. You do the paperwork. After you get the hand pay, will you stay or will you go? One of my biggest issues with slot machine casino gambling has been the surprises, like winning an unexpectedly large jackpot. Professionally, I advise you to take most or all the jackpot as a check. This is where I walked right into trouble. Finally, you get paid. Should I just go on with my day? Get to know them. Under those circumstances, how much cash can you carry without it being in your hand or sticking out somewhere for anyone to notice? I really do. Feel free to ask the casino for security to walk you to your car. One time I was sitting two seats away from someone who looked like they had never been in a high limit slots room at a casino. Make it part of your plan, okay? But, there are some slight changes to this process when winning big jackpots. Next up is the hand pay and more decisions. But, I do appreciate the sentiment. They just nodded to themselves and started hitting the cash-out button. But, at that moment, I felt the need to do so. I know some of you can indeed imagine it. I remember telling the floor manager how unreal and dreamlike it felt. Be nice. I was proud of how well he handled it and told him so at the time. If you choose to accept a taxable jackpot, then you will receive a W-2G. A really big jackpot! A slot attendant comes. I even asked the slot attendant to pinch me. Sorry about that! Are you ready to win a big jackpot the next time you play a slot machine? Treasury to confirm the source of that much cash. I care that you have a plan. The CTR is a reporting requirement for U. Either way, for a large jackpot where you ask for cash, you can expect banded stacks sometimes called bricks of hundred-dollar bills. Luckily for me, the slot attendant arrived right about then to save me. And, you have your I. It was very early in the morning. I remember the moment clearly. It is what I remember whenever I tip my slot attendant after winning my own taxable jackpots.