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

IRS draft guidance updates gambling tax reporting threshold, impacting players while modernizing W-2G requirements for ...

Federal gambling tax deduction cap holds at 90%, while Virginia lawmakers advance bill creating consolidated regulator.

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 ...

President Donald Trump has opened the door to a dramatic shift in how Washington treats gambling, telling reporters he is willing to consider scrapping federal taxes on gambling winnings. The idea, ...

The legislation proposed by Democrat Horsford and a GOP rep would restore a 100 percent deduction on gaming losses. Plus, ...

Billions of tax revenue would be generated across the USA if sports betting was legalized across all 50 states ...