The Internal Revenue Service has formally confirmed that casinos will begin reporting certain gambling winnings only once they reach $2,000, marking a significant update to long-standing federal tax rules. The adjustment, which takes effect on January 1, 2026, follows months of confusion after Congress passed the One Big Beautiful Bill Act of 2025, legislation that appeared to raise the reporting limit but left unanswered questions about timing and enforcement. The clarification arrived through a draft IRS tax form published online, […]

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President Donald Trump has indicated he may examine whether gambling winnings should continue to be taxed at the federal level, adding a new point of discussion to broader conversations surrounding U.S. tax policy. His remarks surfaced as lawmakers, industry figures, and regulators evaluate existing IRS rules, upcoming changes to loss deductions, and the fiscal implications tied to gaming activity across the country. Trump’s Comments Renew Attention on Federal Gambling Tax Rules While speaking with reporters aboard Air Force One, Trump was asked […]

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