Why do we pay taxes on lottery winnings if the money people use to
Why do we pay taxes on lottery winnings if the money people use to
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Lottery winnings are considered ordinary taxable income by the IRS Even if an installment winner sells the future income stream to another
The surcharge is 15 percent of the tax amount that you were already paying The surcharge is mainly for when you earn more money off of a Under Act 84 of 2016, the Pennsylvania personal income tax of percent now applies to Pennsylvania Lottery cash prizes paid after January 1, 2016
dream of family member winning lottery Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24% If you didn't give the payer your tax ID number, the withholding
