5 Tips for Avoiding Taxes on Lottery Winnings

Right away, 24% of that cash value is withheld for federal taxes and goes to the IRS, TurboTax explains So in this scenario where just one

Question: My husband and I recently won the grand prize from my State's lottery Can you provide some guidance on how we will be taxed on our lotto winnings

tax on lottery winnings Lottery winnings also count as income, so by winning the jackpot, the ticketholder has been pushed into the 37% tax bracket for those with

tax on lottery winnings australia The federal tax rate on any prize over $5,000 is 24%, which gets immediately deducted from your winnings And for a large prize like the Mega