Powerball Jackpot Winner Will Get a Hefty Tax Bill
Powerball Jackpot Winner Will Get a Hefty Tax Bill
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However, the eventual distributions during a future tax year are subject to ordinary income taxes When used as a form of retirement savings, these annuities Federal Taxes on Lottery Winnings ; No deductions · Winnings must be reported on federal income tax form · 24-37%, depending on prize amount
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