Lasser's 1001 Deductions and Tax Breaks 2013: Your Complete

irs lottery tax
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In US, a net lottery winning is considered an ordinary taxable income by the IRS The IRS directly withholds a part as the rest will depend on

The winner of the lottery jackpot that currently sits at $ billion would expect to pay at least $135 million in federal income taxes if they If your prize is over $5,000, the IRS requires the payor to withhold 28% for federal taxes In addition to federal tax on lottery winnings, your

fruit mania slot The lottery will collect and remit the income tax for the IRS, on the winner's behalf, very much like how your employer does when you get your The IRS considers lottery winnings as gambling winnings and taxes the income the same as other types of ordinary income This means you'll