The new law will have many provisions to the Tax Cuts and Jobs Act of 2017, including current tax rates, the standard deduction and also new tax break, according to Bankrate.

Betting on sports has gone from the back rooms to appearing seemingly everywhere on your television and computer screen.

"The legislation that passed does make it so some people won't pay taxes on their benefits," says Marc Goldwein, senior vice president at the nonpartisan Committee for a Responsible Federal Budget.