How Lottery Winnings are Taxed

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While Americans are generally allergic to high taxes, the high tax rates on lottery winnings haven't provoked a public outcry If you win over

The lump sum payment will face a mandatory federal tax withholding of 24%, leaving the winner with $ million Depending on the winner's

lottery sambad today night Tonda Lynn and her relatives found this out when the IRS, backed up by the Tax Court, ruled that there had been no binding contract to share the lottery

lottery sambad 1_00 baje result Right away, 24% of that cash value is withheld for federal taxes and goes to the IRS, TurboTax explains So if the Oregon Powerball winner does