This time, proponents of restoring the deduction to 100% tried via an amendment, but the Rules Committee adjourned without hearing it ...

Gambling on Super Bowl LX could trigger surprise tax bills. Learn 5 key IRS rules on winnings, losses, W-2Gs, state taxes and prediction markets before placing your bet.

If you’ve been waiting for the One Big Beautiful Bill tax changes for gambling losses to be reverted, you’re not alone. As Congress gets back to work, a big issue is on the table for gamblers and the ...

President Donald Trump is signaling that he wants to unwind a looming change to how gambling winnings are taxed, setting up a clash between a fresh revenue-raising rule and a White House eager to ...

In the wake of the House Rules Committee blocking the FAIR Bet Act, new legislation has already been introduced to repeal the new gambling tax law. H.R. 6985 is a new bipartisan House bill that would ...

The 90% limit on deductibility of gambling losses is scheduled to take effect with the first tax year beginning January 1, 2026. Despite the proximity to the law being in effect, there is a late‑stage ...

CLEVELAND - U.S. Rep. Max Miller has introduced bipartisan legislation that would reverse a recent change in federal tax law that forces gamblers to pay taxes on money they never actually earned.