Jonathan November 21, 2023 21:15:29
We can only imagine the sheer uphoria of hitting the jackpot playing the lottery. If it's a life-changing amount, then the winner will already be dreaming of all the changes they are going to be making in their life-style. But it's important to consider the tax obligations before going crazy and buying a mansion and a Lamborghini.
Jonathan August 25, 2023 22:31:24
When we hear about those lucky winners who manage to land eye-watering amounts of cash from the Powerball or a progressive jackpot at the US casino, we probably imagine they take the total amount home. But in reality, there are inescapable taxes to be paid. If you win in the casino, they hold back 25% of the payout for the tax man. However, in the UK, because gambling is seen as a pastime, most casino winnings are tax free.
Phyllis F. April 14, 2015 11:49:33
James V. Magee and Albert V. Gaudiosi, reporters, and Frederick Meyer, photographer, of The Philadelphia Bulletin won the Pulitzer Prize for local investigative reporting in 1964. Ever wondered what kind of a US gambling news was spread way back in the 20s? Well we did some investigating of our own and found out that a […]
Frederick H. March 12, 2015 05:24:37
The Internal Revenue Service has suggested lowering the reported levels for casino customers in land-based business across the United States. In US gambling news, the Internal Revenue Service (IRS) has made a proposal to lower the reported income levels for people who win money in casinos. This would of course include slot machines, keno and […]
Bitcoin regulation is starting to pick up steam; the US government now wants to tax gains from trading in the currency. The Internal Revenue Service (IRS) has declared Bitcoin to be a “property” rather than a “currency,” therefore capital gains should be reported to the authorities. While there is yet no tax regime for the […]
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