Pondering Sweet 16 and tax brackets

March 25, 2010

I'm not a basketball fan, but I hear tell that the men's collegiate roundball tournament moves to an important stage today, the Sweet 16.

I'm also not a bettor on sporting events, but I also hear tell that the annual NCAA basketball playoffs provides Nevada with its second largest take of gambling money, just behind the Super Bowl.

So I want to remind all you betting basketball fans that you need to consider more than just tournament brackets. Income tax brackets count, too, since the IRS wants its part of any dinero you rake in during March Madness.

I know you've got a lot to do, what with analyzing the match-ups and finalizing your picks, so I won't go into details right now.

But when you're ready to consider the tax ramifications of your gambling, you can read more in Bet on it, gambling winnings are taxable.

And good luck!

Hello Tax Season 2026

Happy New Tax Year! Are you ready to file your 2025 tax return? I know, too early to ask. But Tax Day 2026 will be here before we realize it. The Internal Revenue Service deadline to file and pay any tax we owe is the regular April 15 date this year. It’s also Tax Day for most of the states that collect income taxes from their residents, which is most of the states! If that seems too far away right now, don’t worry. As is the case every tax season, the ol’ blog’s tips and other tax reminders should help all of us meet our state and federal responsibilities. Procrastinators also will want to keep an eye on the countdown clock just below. It tracks how much time we have until April’s Tax Day, just in case we put off our annual tax task until the absolutely final hours and decide we need to instead get an extension request into the IRS by that date. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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Disasters

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Filing and Paying Taxes

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Tax Brackets/Inflation

Tax Tips

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