Here's the tax bill for the $875 million Powerball jackpot

Here's the tax bill for the $875 million Powerball jackpot federal income tax on lottery winnings
➡️【Mk.com】✅बस डाउनलोड करें और कैसीनो स्लॉट स्पिन का आनंद लें! ✅सबसे लोकप्रिय सोशल स्लॉट गेम्स में से: बड़ी जीत हासिल करें और हमारे ऑनलाइन कैसीनो में बड़ी जीत हासिल करें। ✅  According to CNN Money, prize money is taxable income; lottery winnings are taxed just like income, and the IRS taxes the top income bracket However, the federal tax on lottery winnings Since the tax withholding rate on lottery winnings is only 24%, some lottery winners do not plan ahead, and can have trouble paying their taxes

federal tax on lottery winnings If you win $600 or more, the lottery agency is required to give you Form W-2G, which you have to submit with your federal income tax return if the agency

federal lottery tax calculator 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 The IRS immediately takes 24% of all lottery winnings over $5,000, dropping the total to approximately $367,460,000 for a winner choosing the