Gambling stakeholders and a growing number of politicians oppose a decrease in gambling loss tax deductions. Restoring the level will not come easily.
Wednesday’s federal government shutdown has become Congress’ No. 1 priority, dealing another blow to legislation that would reinstate a 100% gambling loss tax deduction. Key Takeaways Federal shutdown ...
While Rep. Jason Smith, R-Mo., told NBC News the provision was a “mistake,” the new law is expected to bring in $1.1 billion ...
In July, President Donald Trump signed into law the “ One Big Beautiful Bill Act,” introducing a significant change to the way gambling losses are treated for federal tax purposes. The shift, which ...
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