The fight to get the gambling losses tax repealed just hit an obstacle. Senator James Lankford (R-OK), a prominent member of the Senate Finance Committee, is openly opposing efforts to reverse a ...
T.D. Thornton brings the story of a how a discharge petition was filed to force the House to vote on restoring ...
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 ...
As we step into 2026, gamblers across the United States must urgently adjust to the changes to the gambling losses tax brought about by the One Big Beautiful Bill Act (OBBBA). Signed into law in 2025, ...
Under new tax laws that went into effect on January 1, 2026, gamblers will have to pay taxes on some of their winnings even if they break even or lose money overall for the 2026 tax year. The new tax ...
Forbes contributors publish independent expert analyses and insights. Nathan Goldman is a tax prof. at NC State Univ. Super Bowl LX features a matchup between the Seattle Seahawks and the New England ...
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