FULL HOUSE Act Could Restore Taxes Breaks
Federal lawmakers have introduced the FULL HOUSE Act, new bipartisan legislation aimed at reversing a recent change to the tax code that limits how much taxpayers can deduct in gambling losses. The Facilitating Useful Loss Limitations to Help Our Unique Service Economy Act was formally introduced in the House of Representatives by Steven Horsford of Nevada and Max Miller of Ohio. The legislation seeks to restore a decades-old tax standard that allowed individuals to deduct 100 percent of their wagering losses against their winnings. This standard was recently altered by a provision in a larger tax reform package which reduced... The post FULL HOUSE Act Could Restore Taxes Breaks appeared first on This Week in Gambling.
Federal lawmakers have introduced the FULL HOUSE Act, new bipartisan legislation aimed at reversing a recent change to the tax code that limits how much taxpayers can deduct in gambling losses. The Facilitating Useful Loss Limitations to Help Our Unique Service Economy Act was formally introduced in the House of Representatives by Steven Horsford of Nevada and Max Miller of Ohio. The legislation seeks to restore a decades-old tax standard that allowed individuals to deduct 100 percent of their wagering losses against their winnings. This standard was recently altered by a provision in a larger tax reform package which reduced...
The post FULL HOUSE Act Could Restore Taxes Breaks appeared first on This Week in Gambling.
