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 ...

Gambling can be thrilling, but it can also lead to huge losses. Throughout history, there have been many stories of people who lost a lot of money due to their gambling habits. This article looks at ...

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 ...

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 ...

A new tax law goes into effect on Thursday that is likely to have massive ramifications for gamblers.Starting on Jan. 1, 2026, only 90% of gambling losses will be able to be deducted on taxes at the ...