The IRS views almost all gambling winnings as taxable income. This includes sportsbooks, lotteries and even bingo winnings.

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 ...

The gambling world is on tilt this week after an updated section of the Senate's 940-page version of the bill limited the amount of money that gamblers can deduct from their winnings to a maximum of ...

If you're betting on the Super Bowl on Sunday, think twice about your plans for the winnings. Nearly half of it could be owed as taxes, which could put you in a tough spot if you spend it all ahead of ...

House blocks restoring full gambling-loss tax deduction, keeping 90% cap that creates “phantom income.” See impacts on casino ...

President Donald Trump said on Dec. 9 that he is considering the idea of eliminating federal taxes on gambling winnings, signaling another potential addition to his administration’s widening effort to ...

President Donald Trump said he'll consider repealing a federal tax on gambling winnings, which would work to create the opposite effect of a change included in his Big Beautiful Bill. Trump’s Big ...

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 ...

President Donald Trump said Tuesday he would consider eliminating federal taxes on gambling winnings, a move that would expand his administration’s push to reduce taxes on everyday income, including ...