How much would the $ billion Powerball jackpot's tax bill be?

How Taxes on Lottery Winnings Work federal income tax on lottery winnings With more and more gambling establishments, the IRS reminds people that they must report all gambling winnings as income on their tax return Gambling income federal lottery taxes Question: My husband and I recently won the grand prize from my State's lottery Can you provide some guidance on how we will be taxed on our lotto winnings

federal tax lottery winnings lottery prize is not exempt The federal requirements to file information returns and withhold federal income tax from gambling winnings