U.S. Lawmakers Push to Reinstate Gambling Tax Writeoffs
Lawmakers from both the Democratic and Republican parties have opened a new campaign to reverse a federal tax change that affects how gamblers report wins and losses. The renewed effort centers on H.R. 6985, introduced by Nevada Democrat Steven Horsford and Ohio Republican Max Miller, who jointly seek to restore the long-standing practice of allowing gambling losses to offset winnings on a dollar-for-dollar basis. Supporters in Nevada warn that the prior rule adjustment could raise tax liabilities for both casual and professional […] The post U.S. Lawmakers Push to Reinstate Gambling Tax Writeoffs appeared first on World Casino News.
Lawmakers from both the Democratic and Republican parties have opened a new campaign to reverse a federal tax change that affects how gamblers report wins and losses. The renewed effort centers on H.R. 6985, introduced by Nevada Democrat Steven Horsford and Ohio Republican Max Miller, who jointly seek to restore the long-standing practice of allowing gambling losses to offset winnings on a dollar-for-dollar basis. Supporters in Nevada warn that the prior rule adjustment could raise tax liabilities for both casual and professional […]
The post U.S. Lawmakers Push to Reinstate Gambling Tax Writeoffs appeared first on World Casino News.
