How Taxes on Lottery Winnings Work

how do lottery taxes work
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How are lottery winnings taxed by the federal government? · If you normally earn $49,725 as a single tax filer, just $5,000 of your income would be taxed at 22%

US lottery taxes differ from other countries because winnings are considered taxable income for both federal and possibly state taxes The federal government

how to buy 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

how late can you buy lottery tickets in indiana The lottery will collect and remit the income tax for the IRS, on the winner's behalf, very much like how your employer does when you get your