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• For instance, all winnings from gambling are taxable income in the US & have to be declared on federal tax returns. Players must report their winnings to the Internal Revenue Service (IRS) whether or not the casino issues them a Form W-2G. Handling Deductions and Tax Rates. Depending on the player's overall income and the total amount won, different tax rates may be applied to gambling winnings. 25-08-13
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