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Lottery winnings are taxed as ordinary earnings, no matter if you take the "lump sum" or the "annuity" solution. Prior to you can obtain a single dollar, the IRS automatically requires 25% of the winnings for federal tax purposes. The rest of your taxes are based on your earnings tax bracket (to be paid when you file that year’s return). Just ask Lerynne West, Iowa’s largest prize winner in the Powerball jackpot in 2018.
A sturdy need for a objective that is charged with optimistic power, attra...
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