Tax Policy Update: January 22, 2014

Number of the Week: $104 million. The estimated amount of legal wagers placed at Nevada casinos on the outcome of Super Bowl XLVIII, pitting the Seattle Seahawks against the Denver Broncos on Feb. 2 in East Rutherford, NJ. Last year, the Nevada Gaming Control Board reported a record high of $98.9 million in Super Bowl bets. Just remember, winning bets are taxable.

LEGISLATIVE LANDSCAPE

The Senate: Could Tax Extenders Be Resurrected Before Easter? The Senate and the House of Representatives are on recess until next week, which gives us an extra week to speculate about what they might do when they return.

Sen. Ron Wyden, D-Ore., is likely only weeks away from officially taking the helm of the Senate Finance Committee, depending on how quickly the Senate proceeds to the confirmation of current chair Sen. Max Baucus, D-Mont., to become the next ambassador to China.