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

Forbes contributors publish independent expert analyses and insights. Nathan Goldman is a tax prof. at NC State Univ. The One Big Beautiful Bill Act of 2025 was signed into law on July 4. While many ...

Rep. Dina Titus tried, but failed to get her bill to restore gambling tax loss deduction to 100% attached to a government spending bill.

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 ...

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 ...

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 ...