Tax Tips for Lottery Winners

Tax Tips for Lottery Winners taxes lottery winnings
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taxes on $2 million dollars lottery winnings All lottery winnings are subject to Federal taxation (automatically reported taxes The IRS requires a minimum withholding of 24% of the prize

taxes on lottery winnings texas Immediately, 24% of the cash value is withheld for federal taxes It doesn't stop there — winning this jackpot would put the winner in the The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in that