No. George Jefferson filed a civil action law suit after his car was rear ended by a bus, and won enough money to open his first dry-cleaning business.
Jesse Cuevas, originally from Kansas, won for the 2nd day, adding $27,600 to his winnings.
Yes....and lord knows how you draw the line differently from a sweepstake or lottery. It isn't how you won it, (a card game, slot machine, buying a ticket, or having a number drawn out of a hat) it is what it is - winnings. Winnings are ordinary income. You will pay taxes at whatever rate is determined by your total taxable income. If you can itemize, gambling losses are 100% deductible up to the amount of winnings. Don't forget those lotto tickets!
There is income taxes due on winnings at a casino. The only way you could get a refund on such winnings is that taxes are withheld from your winnings that exceeded your tax liability.
no they do not have to pay taxes on their winnings.
Since winnings are the opposite of losses, your question is very confusing. Perhaps your lottery winnings were stolen. If so, you can report the theft to the police.
A casual gambler would report the winnings on line 21 other income of the 1040 tax form. A self employed business gambler would use the schedule C of the 1040 income tax form along with the other necessary forms.
California does not tax have a state income tax on lottery winnings. The federal withholding rate amount is 25 % to be withheld from the winnings amount.
no
There is not certain tax rate on gambling winnings so it will depend on what your taxable income is to determine the tax on winnings. It is ordinary income just like your employment income.
According to the information at the link below your heirs are entitled to any unpaid lottery winnings.
He was never tied. The next person has way less Jeopardy winnings
victories?