Do I Have to Pay Taxes on Lottery Winnings?

irs lottery tax
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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

Determine if your gambling winnings are exempt from federal income tax and if you're eligible to claim a refund of withheld taxes

irs lottery tax The IRS automatically withholds 30% of net lottery winnings in the US The rate at which the net winnings are ultimately taxed though depends on

irs tax on lottery winnings In US, a net lottery winning is considered an ordinary taxable income by the IRS The IRS directly withholds a part as the rest will depend on