Taxes on Lottery Winnings for US Expats & Nonresident Aliens

irs tax on lottery winnings
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Millions in lottery proceeds easily put the winner in the top federal income tax winnings, but others have top-income state tax

When it comes to lottery prizes, the first thing that happens after you turn in that winning ticket and get your lump sum is that the federal

irs lottery tax If you win more than $5,000, you have to pay a 24 percent federal withholding tax However, depending on your annual earnings and tax deductions, you may get

irsh lottery Besides the time-value-of-money discount rate, a lump-sum payout also results in federal tax of 37% on every dollar over $539,900