taxes paid on lottery winnings
Here's what the $1 billion Powerball winner could owe in taxes
taxes paid on lottery winnings
website taxes paid on lottery winnings Answer: Lottery payments are subject to tax as ordinary income While there is little you can do to avoid this income tax, there are steps you can take to taxes on million dollar lottery Lottery agencies are generally required to withhold 24% of all winnings over $5,000 for taxes If your winnings put you in a higher tax bracket,
taxes paid on lottery winnings How are Lottery winnings taxed? All Lottery prizes, regardless of the amount, generally are considered as income by the state and federal government For Answer: Lottery payments are subject to tax as ordinary income While there is little you can do to avoid this income tax, there are steps you can take to Winnings from lottery and gambling activity must be reported on your tax return and are fully taxable by the IRS and most state governments The
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