What Does The New Tax Law Bring?
If you have spent even 1 minute on Twitter in the last month, you would know that there is a possibility that a new tax law is going to pass that would be the biggest change in gambling taxes – ever .
The proposed amendment would make only 90% of losses deductible on taxes, meaning there is a chance a player could lose for a year and still owe tax money. Yes you read that right.
This can have major implications for all kinds of players, but of course the focus has been on sharp sports players and AP casino players. But it’s not the usual nonsense they are complaining about, this is a legitimate one.
This could in essence end professional gambling in the US, or at least make it extremely difficult to navigate. A number of Legislators have been advocating to strip the amendment from the BBB, will have to see how that turns out.
