Billion-dollar Mega Millions jackpot won't trigger $850M IRS bill

how much does irs take from lottery winnings
➡️【Mk.com】✅Live Casino provides you with the best live casino games. ✅Play live casino games online, such as roulette, blackjack, etc.! Join now. ✅  Tax Tip: Before you receive one dollar, the IRS automatically takes 24% of your winnings as tax money You're expected to pay the rest of your tax bill on how to play fantasy 5 lottery The first thing that happens when you turn in that winning ticket is that the federal government takes 24% of the winnings off the top But the

how much does irs take from lottery winnings Prize money = taxable income: Lottery winnings are taxed like income, and the IRS taxes the top income bracket % The government will  Still, this is lower than the previous rate of percent, thanks to the tax law changes of 2017 (Note that the IRS will take 24 percent off the top and the  Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

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