Poker content related to “US Tax Law” · 1 items
According to CNBC, a professional poker player with over $48 million in cumulative winnings has been forced into semi-retirement due to high tax burdens under the new US tax law, calling the current tax system 'unsustainable'. The new tax law treats poker income as ordinary income and requires players to pay taxes on accumulated winnings rather than annual income, leading to cash flow strain.
