HR 4304
Fair Accounting for Income Realized from Betting Earnings Taxation Act
Jurisdiction
US Congress
Session
119th Congress (2025-2026)
Last updated at
Jun 14, 2026, 4:01 AM
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- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Fair Accounting for Income Realized from Betting Earnings Taxation Act (FAIR Bet Act), aims to simplify how individuals calculate their tax liability related to gambling winnings. Specifically, it modifies the Internal Revenue Code to ensure that taxpayers can fully deduct their wagering losses against their gambling income. This change would allow for a more complete reflection of the financial impact of gambling activities on an individual’s tax return. The bill seeks to provide greater clarity and fairness in the tax treatment of gambling earnings.
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