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Online Casino  (IRS) ruled that such firms are to be required to pay federal excise tax on their entry fees. According to a Friday report from the Bloomberg news service, the decision was revealed via an internal memo from the federal authority and could result in the two daily fantasy sports behemoths becoming liable for millions of dollars in unpaid taxes and late payment fees. Significant sums:Bloomberg reported that American daily fantasy sports firms charge entry fees that subsequently allow punters to compete for cash prizes based on the performance of athletes in a virtual line-up. Online Casino Online Casino The domestic industry as a whole purportedly generated about . 2 billion in such duties in 2018 alongside around 5 million in total revenues. Ample amount:The news service reported that the IRS now looks set to start defining these admission payments as sportsbetting wagers, which means that firms such as FanDuel Group and DraftKings Incorporated could see each entry fee subjected to a maximum 2% excise tax alongside an annual 0 charge for every person processing such transactions. Online Casino

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