• You are required to report all gambling winnings—including the fair market value of noncash prizes you win—as “other income” on your tax return. • You can’t subtract the cost of a wager from your ...
ROCK HILL, SC / ACCESSWIRE / June 3, 2022 / TaxBandits has once again expanded its line-up of IRS tax forms to include the Form W-2G and Form 940 Amendments. These forms are now available for ...
With the Super Bowl right around the corner, I started thinking about sports betting and taxes. (Remember: we are still in the middle of tax season) If you win big on Sunday, it won't have an impact ...
NORFOLK, Va. — It's been just over a year since the opening of Rivers Casino Portsmouth, the state's first fully built, non-temporary brick-and-mortar casino gaming operation. The casino has allowed ...
It seems a pretty simple and straightforward request, but it may take an act of Congress to get it accomplished. As the amounts of slot machine jackpots grow and the casino industry expands across the ...
Few aspects of racetrack life are so odious as the Internal Revenue Service rules that require reporting certain gambling winnings. Some horseplayers find it so burdensome and annoying to fill out ...
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