Betting and lottery tax
If this were allowed, virtually no one would have to pay tax on ordinary income; any such income could be packaged, assigned, and transformed into capital
Taxes on Lottery Winnings for US Expats & Nonresident Aliens how many times do you pay taxes on lottery winnings
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Like all other taxable income, the IRS requires you to report prizes and winnings on your tax return, too That means you might have to pay
how to cheat the lottery Individuals or groups conducting gambling activities must report and pay sales tax and local option tax, if any, on the gross receipts (not net