Here's what the $1 billion Powerball winner could owe in taxes

Here's what the $1 billion Powerball winner could owe in taxes irs tax on lottery winnings So when the winner next files their taxes, they'll likely have to give the IRS another 13% of that prize RELATED: How one lottery-winning irsh lottery Your local citytown may also require your lottery winnings to be taxed as income and this can result in another line of deduction from your

irsh lottery Tax on winnings should be reported to you in Box 1 of IRS Form W-2G This includes lottery winnings, sweepstakes you entered by making

irs lottery tax 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 You cannot net the winnings and losses for tax years 2020 and prior Starting in 2021 if you elected to itemize deductions on your federal return (you did not