How much money will you get after taxes if you win the Powerball

what are taxes on lottery winnings
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Lottery agencies are generally required to withhold 24% of all winnings over $5,000 for taxes If your winnings put you in a higher tax bracket,

The reward would be subject to tax according to Section 56 and reported under the title “Income from Other Sources ” The lottery winners are It's very important to pay the necessary taxes on lottery or prize money winnings in order to prevent fines and other legal repercussions Such

heart and stroke lottery winners list While lottery winnings of $600 or less are not reported to the IRS, winnings in excess of $5,000 are subject to a 25 percent federal withholding Lottery agencies are generally required to withhold 24% of all winnings over $5,000 for taxes If your winnings put you in a higher tax bracket,