Billion-dollar Mega Millions jackpot won't trigger $850M IRS bill

According to CNN Money, prize money is taxable income; lottery winnings are taxed just like income, and the IRS taxes the top income bracket However, the

tax journey of lottery winnings, from immediate withholdings by the IRS to the nuances of

irsh lottery Like the IRS, most states treat lottery and gambling winnings as income subject to tax, so the total amount of tax you owe from your winnings

irs tax on lottery winnings Hi, I'm Thomas, and I work for the IRS If you gamble, you need to know that gambling winnings are generally taxable and must be reported on