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

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 ...

BATON ROUGE, La. (WAFB) - The “One Big, Beautiful Bill” was signed into law back on July 4th of last year. Changes to current tax laws back then, as well as new tax laws, are set to go into effect ...

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 ...

If you’re into gambling or planning to hit the World Series of Poker (WSOP), there’s something critical you need to know about: the “gambling winnings tax.” A major change to the tax code in 2026 is ...

Gambling winnings are expected to be taxed more next year — at least federally. Thanks to the 2025 GOP/Trump tax and spending bill, a portion of winnings from activities like lotteries, slot machines, ...