how much does the irs take from lottery winnings
Here's the tax bill for the winning $ Mega Millions ticket
how much does the irs take from lottery winnings
website how much does the irs take from lottery winnings The tax applies to prizes greater than $5,000 In the case of the winning Powerball ticket, that's about $ million for the cash option But how to apply dv lottery 2025 Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax
how much does the irs take from lottery winnings If the winner takes the payout, as many do, the federal tax would cut the prize by around $149 million In an estimate from USA Mega, an In fact, lottery winnings are taxed, with the IRS taking up to 37% Curiously, though, only 24% is withheld and sent directly to the government Not all states tax for lottery winnings, Federal does though Federal is entitled to 28% under 500k Over 500k they can take up to like 38% For
Unable to load receipt Availability
