Powerball Jackpot Winner Will Get a Hefty Tax Bill

The top federal tax rate is 37% for income over $500,000 The first thing that happens when you turn in that winning ticket is that the federal

Powerball Jackpot Winner Will Get a Hefty Tax Bill You're required to report all of your gambling winnings as income on your tax return, even if you end up losing money overall · You may receive

The top federal tax rate is 37% for income over $500,000 The first thing that happens when you turn in that winning ticket is that the federal

does a straight beat three of a kind in poker Taxation is imposed upon all income sources You may think that lottery winning would not be considered as an income source, but it is counted

If your amount is higher, you might have to pay almost 40% as inheritance tax Is Lotto winning tax free? The winning amount is tax

download casino slot machines How much will the lottery winner pay in taxes? The IRS views lottery winnings as ordinary income The top tax bracket for the highest earners

Lottery winnings are considered income and, like most other forms of income, are subject to taxation The Internal Revenue Service