Iowa Tax On Gambling

how to not pay taxes on lottery winnings
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how to not pay taxes on lottery winnings How much of a prize is taken out for taxes? The winnings are subject to federal income tax withholding The tax withholding  It is important to file tax returns reporting your winnings and pay taxes owed to avoid interest and penalties There is a 5 percent per month penalty for  Personal Income Tax Facts: Taxpayer Davis, a computer programmer, buys 15 lottery State Tax Commission, Appellate Tax Board, Docket No 64558, June 6

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