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Income Tax

New Effort to Restore Gambling Loss Tax Deduction Busts in House

Taxes January 23, 2026 

New Effort to Restore Gambling Loss Tax Deduction Busts in House

The House Rules Committee declined to advance an amendment to a larger spending bill that would restore a gambler’s ability to deduct 100 percent of losses on annual tax filings.

Featured Articles

January 23, 2026  

April Announces Free Tax Filing for PayPal Debit Card Customers

January 22, 2026  

California Billionaire Tax Proposal Roils Bay Area Havens, Divides Politicians

January 21, 2026  

Mamdani Signals He’s Ready to Push Gov. Hochul on Tax Hikes as NYC Budget Shortfall Looms

January 21, 2026  

California Crypto Startup Moves to South Dakota as Debate Over Proposed Wealth Tax Heats Up

January 21, 2026  

Poll Funded by Opponents of California’s Wealth Tax Finds Support for Ballot Measure Under 50%
Man Who Leaked Trump’s Tax Returns Was Taught to Take a Stand in St. Louis

Taxes October 21, 2024 

Man Who Leaked Trump’s Tax Returns Was Taught to Take a Stand in St. Louis

Charles Littlejohn pulled off what’s been described as the greatest heist in IRS history and was sentenced to five years in prison.

Tax Experts See Long Standoff Over Expiring Provisions

Taxes October 17, 2024 

Tax Experts See Long Standoff Over Expiring Provisions

Deep ideological differences could make striking an agreement on expiring tax breaks difficult if there is divided government.

AICPA and NATP Respond to TurboTax Ad

Income Tax October 17, 2024 

AICPA and NATP Respond to TurboTax Ad

The ad tells Americans they should have a "tax break up" with their professional preparer by using one of TurboTax's live experts.

Isaac M. O'Bannon

Tax Court Delivers Mixed News on Charitable Appraisals

Taxes October 15, 2024 

Tax Court Delivers Mixed News on Charitable Appraisals

The moral of the story is that you should not run risks with so much at stake.  The cost of an accurate qualified appraisal from a reputable source is money well spent.

Ken Berry, JD

Trump Floats Tax Write-Off For Auto Loans in Detroit Speech

Taxes October 15, 2024 

Trump Floats Tax Write-Off For Auto Loans in Detroit Speech

Latest proposal comes as former president makes play for votes in Michigan, where Harris’ lead has dwindled.

IRS Provides Tax Relief to All of Florida After Hurricane Milton

Taxes October 11, 2024 

IRS Provides Tax Relief to All of Florida After Hurricane Milton

Because of hurricanes Debby, Helene, and Milton, affected taxpayers have until May 2025 to file returns and make tax payments.

Jason Bramwell

Tax Gap For 2022 Estimated At $696 Billion, IRS Says

Taxes October 11, 2024 

Tax Gap For 2022 Estimated At $696 Billion, IRS Says

The projected gross tax gap for 2022 is down $12 billion from a revised 2021 tax gap of $708 billion, the agency said Oct. 10.

Jason Bramwell

Trump Pledges to Eliminate Income Taxes on Americans Living Abroad

Taxes October 10, 2024 

Trump Pledges to Eliminate Income Taxes on Americans Living Abroad

His plan could allow wealthy Americans to move to low-tax countries and avoid any tax obligations.

Wolters Kluwer Provides Insights Into 2024 Natural Disaster Tax Relief Options

Taxes October 8, 2024 

Wolters Kluwer Provides Insights Into 2024 Natural Disaster Tax Relief Options

Crucial tax relief opportunities may be available to those affected by recent natural disasters, such as Hurricane Helene.

Jason Bramwell

IRS Proposes Regs to Exempt Tribal-Owned Companies From Income Tax

Taxes October 8, 2024 

IRS Proposes Regs to Exempt Tribal-Owned Companies From Income Tax

During discussions with Treasury, tribes had requested rules on the federal tax classification of entities owned by tribes.

Jason Bramwell

IRS Announces Tax Relief For Wildfire Victims in Parts of Washington

Taxes October 7, 2024 

IRS Announces Tax Relief For Wildfire Victims in Parts of Washington

Federal officials have announced tax relief for people and businesses in the Yakama Nation affected by wildfires that began June 22.

IRS Extends Tax Deadlines Until May For Helene Victims

Taxes October 1, 2024 

IRS Extends Tax Deadlines Until May For Helene Victims

The entire states of Alabama, Georgia, and the Carolinas, as well as parts of Florida, Tennessee, and Virginia, qualify for tax relief.

Jason Bramwell

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