What Taxes Are Due on Gambling Winnings?

Gambling Winnings: Introduction Gambling winnings are fully taxable, so you won’t get to keep every penny even if you beat the odds and win big. The Internal Revenue Service (IRS) has ways of ensuring that it gets its share. Casino winnings and winnings from lotteries, horse races, off-track betting, sweepstakes, and game shows are all taxable.…

Energy Technical Working Group to help extricate Matjhabeng Local Municipality from R6 billion debt owed to Eskom

In his quest to address the debt owed by various municipalities to Eskom, the Minister of Electricity and Energy, Dr Kgosienthso Ramokgopa yesterday engaged with the Executive Mayor of Matjhabeng Local Municipality Thanduxolo Khalipha, Councillors and senior management. Matjhabeng Local Municipality owes Eskom over R6 billion in outstanding debt for electricity.  In this meeting the…

Next round of Oberlin Medical Debt Relief Initiative underway

The city of Oberlin, in collaboration with the national nonprofit Undue Medical Debt, continues to alleviate the burden of medical debt for eligible Oberlin residents through the Oberlin Medical Debt Relief Initiative, according to a news release. Oberlin residents identified through this initiative for medical debt relief this quarter can expect to receive debt relief…

Siphoned funds spent on gambling, debts

A Gore accountancy firm worker has pleaded guilty to siphoning more than $180,000 from a client’s bank account to cover his own gambling addiction and debts. The man, whose name is suppressed, admitted in the Gore District Court last week to the 12 charges of obtaining by deception between 2018 and 2021. The court heard…