Do senior citizens pay tax on lottery winnings?

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Before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000, CNBC explains Out

Try our lottery tax calculator What if you win a vacation or a car Are game show winnings taxed differently than gambling winnings? Winning a large lottery prize can be a wonderful experience as you Contact a professional tax adviser to help you determine your total tax liability

provider slot paling gacor Winning a large lottery prize can be a wonderful experience as you Contact a professional tax adviser to help you determine your total tax liability  Well now you have to report your prize to the IRS via Form W-2G The IRS charges a flat rate of 24% on all lottery winnings over $5,000 For