He’s unlikely to receive maximum penalties but could still serve several years behind bars Prominent attorney and high-stakes poker player Tom Goldstein has been convicted on most counts in a federal tax fraud case tied to his gambling activity. A jury in Greenbelt, Maryland, found him guilty on 12 of 16 charges after several days
Governor Pritzker’s budget includes more new taxes for the gaming industry JB Pritzker has proposed higher taxes on casino table games as part of his fiscal year 2027 budget plan in Illinois. The proposal would also establish a new gambling oversight agency and change how video gaming terminal revenue is distributed. Lawmakers must approve the
Rep. Tom Cole of Oklahoma has joined the bill as a co-sponsor The FAIR BET Act received a major boost this week that could help protect poker players and other gamblers from an upcoming tax change. Rep. Dina Titus of Nevada announced that Rep. Tom Cole of Oklahoma has joined the bill as a co-sponsor,
The efforts show growing momentum in Congress to align crypto taxes with how the technology actually works US lawmakers are pressing federal tax officials to rethink how cryptocurrency staking rewards are taxed, warning that current rules could unfairly hit investors twice. A bipartisan group in the House is asking the Internal Revenue Service to revisit
The update should simplify things for players who enjoy the casino without chasing massive jackpots A quiet change from the Internal Revenue Service could bring some relief to casino players, especially those who frequent slot machines. Beginning in 2026, the IRS will raise the minimum jackpot that triggers mandatory pay and tax withholding from $1,200
Several figures in the poker world have criticized the tax change Poker Hall of Famer Erik Seidel has raised concerns that a new US gambling tax rule could push him toward scaling back, or even stepping away from, tournament poker. The longtime pro says the change creates financial pressure that makes high-level play far less
Supporters say accepting BTC for taxes could help the US compete globally A new proposal in Congress aims to make Bitcoin an option for paying federal taxes, adding fresh momentum to the debate over how cryptocurrency should fit into US financial policy. The bill, introduced by Representative Warren Davidson of Ohio, would let taxpayers submit
Roger Ver could pay the government $48 million to avoid going to prison Roger Ver, the early Bitcoin investor known in crypto circles as “Bitcoin Jesus,” has reportedly reached a deal with the US Department of Justice to settle his tax evasion case. According to a report from The New York Times, Ver’s legal team
Lawmakers have rejected an attempt to add the bill to the Defense budget A push to roll back a controversial new gambling tax has stalled in Washington, leaving US poker players and other gamblers bracing for changes set to take effect in 2026. Unfortunately, the GOP-controlled Rules Committee did not accept the FAIR BET Act
So far, efforts to protect gamblers from the major tax overhaul aren’t going well Efforts to reverse a controversial tax change affecting professional gamblers hit a roadblock yesterday when Senate Republicans blocked a Democratic-led proposal aimed at restoring full gambling loss deductions. Senator Catherine Cortez Masto of Nevada sought unanimous consent for the measure, but
The bill would automatically force some poker player to take losses when filing their taxes A newly added provision to the Senate’s version of the One Big Beautiful Bill Act could significantly impact poker players and other gamblers across the US. The amendment, passed on July 1 as part of the broader extension of the
The bill would make tips tax-free if approved by Congress A new bill making its way through Congress could bring meaningful financial relief to casino and hospitality workers across the country. The “No Tax on Tips Act,” introduced by Senator Ted Cruz and supported by Senator Jacky Rosen, passed the Senate this week without a
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