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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
Taxation: The Taxman Cometh: How Lottery Winnings are Taxed what is the federal tax rate on lottery winnings
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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
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