Nevada’s gaming industry and its congressional delegation are intensifying efforts to overturn a federal tax change that is set to take effect in 2026 and would limit how much gamblers can deduct in losses. The provision, passed as part of the One Big Beautiful Bill Act signed into law in July by President Donald Trump, alters a long-standing rule that allowed gamblers to deduct all losses up to the amount of their winnings. Industry leaders, professional players, and lawmakers argue […]

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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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Nevada Rep. Dina Titus is intensifying efforts to reverse a controversial tax change impacting gamblers across the United States. On Wednesday, August 27, the co-chair of the Congressional Gaming Caucus announced that she has filed her Fair Accounting for Income Realized from Betting Earnings Taxation Act (FAIR BET Act) as an amendment to the 2026 National Defense Authorization Act (NDAA), a legislative strategy that significantly boosts the proposal’s chances of passage. Strategy to Secure Passage The FAIR BET Act, initially introduced to the House Committee on Ways […]

The post Dina Titus Pushes to Attach FAIR BET Act to NDAA 2026 to Reinstate Full Gambling Loss Deduction appeared first on World Casino News.

The sweeping new federal tax bill, dubbed the “One Big Beautiful Bill” (OBBB), has caused a stir across the gambling world—generating anxiety for professional players while offering a massive financial boon to Las Vegas’ top casino operators. While MGM Resorts International and Caesars Entertainment brace for potential cash infusions exceeding $100 million each, the industry remains sharply divided over the bill’s impact, particularly a deeply unpopular change to gambling loss deductions. Executives from MGM and Caesars detailed during recent earnings […]

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