New 2026 gambling tax limits loss deductions to 90%, raising taxes for bettors. Learn how Congress is responding and what ...

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 ...

Legislation to restore a key gambling loss tax deduction still awaits further action as the U.S. House of Representatives returns to normal business. Congress has yet to act on legislation that would ...

A controversial provision in the 2025 GOP/Trump tax bill is set to change how gambling winnings are taxed, and it could leave many casual and serious gamblers with an unexpected bill from the IRS.

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 ...

It's a decent bet: Professional gamblers will become the first taxpayers ever to pay Uncle Sam for unrealized or "phantom" income in 2026. Processing Content That's because, barring changes to the One ...

You can’t watch a sporting event, listen to a podcast, or open social media without being served some sort of advertising for betting, whether it’s the now widely proliferated sports betting apps like ...