How much would the $ billion Powerball jackpot's tax bill be?

Federal tax Right off the bat, lottery agencies are required to withhold 24% from winnings of $5,000 or more, which goes to the federal

How much would the $ billion Powerball jackpot's tax bill be? Winnings with the Lottery Department, or attach a statement to their federal income tax return The statement should include the following information

Federal tax Right off the bat, lottery agencies are required to withhold 24% from winnings of $5,000 or more, which goes to the federal

federal lottery tax rate Still, you'll probably owe more when taxes are due since the top federal tax rate is 37% So a good first step a lottery winner could take

Like all other taxable income, the IRS requires you to report prizes and winnings on your tax return, too That means you might have to pay

federal government grant real facebook lottery winners list If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24% Income tax is withheld at a flat 24% rate from

For winnings of more than $5,000 the DC Lottery withholds percent of lottery winnings for District income taxes District tax withholding rates are subject