Do Senior Citizens Have to Pay Taxes on Gambling Winnings?

Yes. Senior citizens have to pay taxes on gambling winnings. Age gives you no exemption — the IRS treats gambling winnings as taxable income for a 25-year-old and an 85-year-old exactly the same way. But for retirees, the tax bill often doesn’t stop at the winnings themselves. A jackpot can quietly raise how much of […]