Taxation of Recreational Gamblers: An Overview of How to Report Wagering Gains and Losses (EA Journal)
Gambling is a $140 billion per year industry. Although the [...]
Gambling is a $140 billion per year industry. Although the [...]
The 17 words of Internal Revenue Code Section 165(d) provide [...]
With the growth of gambling in the United States, many industries have rushed in to provide the needed support and expertise. The area of taxation is no different. Many lawyers, accountants, and other tax professionals have quickly developed the necessary proficiency to help their clients properly record and report their gambling income. I would like to share with you some of the basic issues so that you may help and at the very least protect the interests of your clients.
With the growth of gambling in Oklahoma, many industries have rushed to provide the needed support and expertise. The area of taxation is no different. Many lawyers and accountants have quickly developed the necessary proficiency to help their clients properly record and report their gambling income. I would like to share with you some of the basic issues so that you may help and at the very least protect the interest of your clients.
WILLIAM JONES, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent. United [...]
JIN LONG PAN AND BAO QIONG CHEN, Petitioners v. COMMISSIONER [...]
GEORGE D. AND LILLIAN M. SHOLLENBERGER, Petitioners v. COMMISSIONER OF [...]
ANN M. LAPLANTE, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent. [...]
IRS Chief Counsel Advice Memorandum 2008-011 Office of Chief Counsel [...]
MICHAEL N. AND BARBARA J. MERKIN, Petitioners, v. COMMISSIONER of [...]