Tax Court News

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Court Rules Tariffs under IEEPA are unconstitutional (strikes down), AND allows at least SOME repayments for companies who have paid tariffs under the IEEPA justification

Court somehow fudges, or refuses to finalise clear opinion

Court Rules Tariffs under IEEPA are unconstitutional (strikes down), but blocks repayments for companies who have paid tariffs under the IEEPA justification.

Court rules that tariffs are constitutional (because Congress didn’t exercise objection right to state of emergency…or other reason).

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Gambling losses deduction remains limited to 90% as laid out in OBBB

Congress explicitly intervenes to restore 100% deduction (example Rep Titus FAIR BET act enacted)

Mainstream pro gamblers move primarily to prediction markets for tax treatment

Administrative action classifies sports prediction markets as gambling for tax purposes

Court ruling classifies sports prediction markets as gambling for tax purposes

Legislation classifies sports prediction markets as gambling for tax purposes

Major sports book goes bankrupt because of OBBB by 2027-01-01

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