A gambling loss tax deduction change in Trump’s “Big Beautiful Bill” is causing an uproar. Here’s what you need to know.

Several provisions of Trump's bill are poised to be retroactive to 2025 or take effect in 2026, and they may shift how ...

The Internal Revenue Service (IRS) is bracing for a challenging 2026 tax season following a significant reduction in its workforce. The Department of Government Efficiency (DOGE) mandated these cuts, ...

President Donald Trump's tax bill, signed into law July 4, reduces how much in losses a gambler can deduct. Here's how the changes will work.

Under the 2017 tax bill passed under the first Trump administration, a cap was officially put on this deduction for the first time, limiting what taxpayers could deduct to $10,000. The cap is ...