Gambling and Taxes: The Price of Winning
August 7, 2020 - CA USCompliance4all
support@compliance4All.com
Phone:8004479407
Overview: Most states now have some form of legalized gambling. Even in states without legalized gambling there are internet gamblers, those who travel to gambling venues and those who engage in illegal gambling. As a result, more and more people have gambling winnings or losses. Unfortunately, not all taxpayers maintain adequate records of wins and losses and many become subject to IRS audits. Why you should Attend: Learn the rules and regulations for accounting for gambling winnings and losses. We will review the most recent cases and rulings, both "for" and "against" taxpayers. You will learn proper reporting of gambling income, effectively defend your client during an audit of gambling income, know tax rules for casino employees.