Criminal defense and gambling attorney Robert Loeb discusses taxes and reviews Tax Help for Gamblers Huntington Press author Jean Scott.
For those who want to explore the tax law of every state, as well a more detailed consideration of all gambling/tax issues, I highly recommend the books by Jean Scott and Marissa Chien on Tax Help for Gamblers. In fact, there is a recent (2015) update of this book by Scott and Chien, and it is available as an ebook through Huntington Press (this edition contains the latest in tax news for gamblers).
In the meantime, when you do your taxes, do them right; then you can rest easy, sleep at night, and not have to worry about a dreaded audit from the IRS. That peace of mind is worth the effort to maintain good gambling records. Don’t you agree?
