Rep. Levin announces tax hearing on Internet gambling

House Ways and Means Chairman Sandy Levin (D-Mich.) on Wednesday announced his committee would host a hearing on tax proposals related to legislation to legalize Internet gambling. The hearing is scheduled to take place May 19. 

The committee will discuss the current tax laws and reporting requirements applicable to wagering in the U.S. It will also consider tax and other proposals related to pending legislation in Congress to license and regulate Internet gambling.