Proposed Amendments to the Regulations Governing Wagering Losses

The Internal Revenue Service (IRS), Treasury is notifying about proposed amendments to the regulations governing wagering losses. The proposed regulations reflect recent changes to the statutory law. These changes will affect persons who make payments in the course of their trade or business and those persons claiming a deduction for wagering losses. Electronic or written comments and requests for a public hearing must be received by June 16, 2026.