Poker tax shock: New U.S. rule limits gambling loss deductions to 90%, squeezing pros and pushing semi-retirement as ...

Point guard Fred VanVleet recently shared a story about an NBA fan approaching him in church over a gambling result. The Houston Rockets starter has yet to play a game this season due to injury, but ...

Americans love winners. They love learning about those who gamble and succeed — such as Edwin Castro, who last year won a $2 billion Powerball jackpot. Intoxicated with the prospects of winning, ...

A federal tax rule limits gamblers to deducting 90% of losses against winnings, and White warned it could drive bettors away ...

Forbes contributors publish independent expert analyses and insights. Andrew Leahey is an attorney and law professor that covers tax. This voice experience is generated by AI. Learn more. This voice ...

A pair of academics recently teamed up on a study arguing against restoring the law that allowed 100% tax deductions for gambling losses. In fact, the professors believe there should be no gambling ...

Calls about online wagering have more than doubled to Florida’s problem gambling helpline since the legalization of sports betting in Florida in 2023. The Florida Council on Compulsive Gambling ...

This article was co-authored by Mirit Eyalthe, the Joseph D. Peeler Professor of Law at the University of Alabama School of Law, and Jay A. Soled, a Distinguished Professor of Taxation at Rutgers ...

The high-stakes world of professional poker players is getting a shake-up. According to CNBC, some of the game's most successful players say a new tax rule is making their careers increasingly hard to ...