Tag: excise-tax
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IRS Watchdog Uncovers $13 Billion in Unreported Gambling Winnings
A new report may raise the eyebrows of gamblers and tax collectors alike. An independent IRS watchdog group, Treasury Inspector General for Tax Administration (TIGTA), reports that nearly 149,000 Americans with gambling winnings over $15,000 didn’t file tax returns between 2018 and 2020. These gamblers won over $13 billion, resulting in unpaid taxes of around…