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

An effort to restore the full federal tax deduction for gambling losses fell short in the U.S. Congress last week. The ...

A long-shot effort to restore the full federal tax deduction for gambling losses fell short on Capitol Hill this week. The House Rules Committee declined to advance an amendment to a larger spending ...

Vulnerable members of Congress who rely on the gambling industry to fund their campaigns are pushing legislation that the ...

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

Another effort by Dina Titus, a Democrat from Nevada, to return tax deductions from gambling losses back to 100% has failed ...

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

CLEVELAND - U.S. Rep. Max Miller has introduced bipartisan legislation that would reverse a recent change in federal tax law that forces gamblers to pay taxes on money they never actually earned.

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

Public Law No. 119-21, 139 Stat. 72 (2025) — known as the One Big Beautiful Bill Act — introduces a change to the treatment of gambling losses under the Internal Revenue Code. Gamblers could deduct up ...

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

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 ...