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

how much does the government take from lottery winnings
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Right away, 24% of that cash value is withheld for federal taxes and goes to the IRS, TurboTax explains So in this scenario where just one

In response to the 4,500 households that self-report winnings, State eligibility workers will do the following:  Lottery winnings, considered taxable income, are subject to both federal and state income taxes The Internal Revenue Service imposes a

today morning dear lottery result Reporting Gambling Winnings You'll report the income and the taxes already paid on it under Other Income on your Form 1040 tax return when you prepare If your winnings are in the form of a car or jewellery or apartment or any moveable or immovable asset, then you have to pay the TDS of % to the government