Powerball Jackpot Winner Will Get a Hefty Tax Bill

Powerball Jackpot Winner Will Get a Hefty Tax Bill irs lottery tax
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irs lottery tax In US, a net lottery winning is considered an ordinary taxable income by the IRS The IRS directly withholds a part as the rest will depend on

irsh lottery Regardless of which option the player takes, the IRS takes a minimum 24% federal withholding tax upfront on lottery winnings That's a big In New Hampshire, you won't have to pay state tax on your lottery winnings because the state doesn't have an income or sales tax (That's great