Income Tax on Awards & Prizes

how to avoid taxes on lottery winnings
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how to avoid taxes on lottery winnings State lottery winnings are reportable to the IRS where the State agency conducting the lottery requires a winner to complete federal Form W-2G, Certain Gambling  Taxes on Lottery Winnings, Raffles, Charity Drawings, and Sweepstakes by Wager Tax on winnings should be reported to you in Box 1 of IRS  The Ministry of Home Affairs has proposed that the prize amount for lottery winners be paid through formal banking channels to prevent tax

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