Kang Haggerty News
On August 5, 2025, Law360 published an Expert Analysis-Opinion authored by Kang Haggerty associate Walter Bourdaghs on how the recent Budget Act’s Deduction Limit Penalizes Losing Gamblers (subscription required).
“Beginning Jan. 1, 2026, it will become extraordinarily difficult to be a professional gambler in the U.S.,” says Bourdaghs, who plays an occasional hand as an avid poker player in his free time. “Previously, gamblers were taxed only on their net profits. The bill amends the Internal Revenue Code so that gamblers will be allowed to deduct only 90% of their losses against their winnings. This will potentially lead to counterintuitive outcomes in which some gamblers owe taxes despite having had a net loss for the year.”
If you have any questions or would like to learn more, please contact Walter at Kang Haggerty.