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Florida lottery winners indicted on tax charge

Topic closed. 22 replies. Last post 11 years ago by TNPATL.

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LOTTOMIKE's avatar - cash money.jpg
Tennessee
United States
Member #7853
October 15, 2004
11338 Posts
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Posted: April 15, 2006, 3:39 am - IP Logged

666,666 says it all.if those numbers aren't cursed i don't know what is....

 

 

Argue.....Evil Smile......Mad......Hit With Stick

    TheGameGrl's avatar - character catafly.jpg
    A long and winding road
    United States
    Member #17084
    June 10, 2005
    4521 Posts
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    Posted: April 15, 2006, 11:29 pm - IP Logged

    "The Toths opted to receive their $13 million share in annual payments of $666,666 until 2010. They were excited, but worried."

    Correct me here, but I am sure that 2010 hasnt transpired yet. That being the case they still have an opportunity to settle with the IRS on the TRUE debt owed (if any).  As a natural skeptic when reading any media I would like to believe there is more to this story then is being told. Best to live and learn from anothers mishap then to stand in judgement .

    GameGrl:

    I said they did not CHOOSE annuity. The choice was not available when they "won".

    I was quoting the article CashONly, not your commentary.

    The article clearly stated the above mentioned. thus why there were quotations from the ORIGINAL Article.

    And thank you for reading my opinion! :)

    ~~Is it true, Is it kind,Is it necessary. ~~~

     Thanks be to the giving numbers: 1621,912,119 02014

      Avatar
      MI
      United States
      Member #20229
      August 14, 2005
      59 Posts
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      Posted: April 16, 2006, 6:50 am - IP Logged

      "The Toths opted to receive their $13 million share in annual payments of $666,666 until 2010. They were excited, but worried."

      Correct me here, but I am sure that 2010 hasnt transpired yet. That being the case they still have an opportunity to settle with the IRS on the TRUE debt owed (if any).  As a natural skeptic when reading any media I would like to believe there is more to this story then is being told. Best to live and learn from anothers mishap then to stand in judgement .

       

      I Agree!

      I also read the article the same way.  It's confusing.  If the income reported for 2000 is over $1.6M it's much more than the annuity payment, so how could they be flat broke? The IRS is accusing them of filing false returns which indicates they must have made even more income during those years, correct?  Something is definitely wrong.

      It looks to me like they sold some of the annuities in different years. The annuity companies will buy X years of payments for cash. They probably sold off the last years of the annuity to get the cash and didn't claim all the income on their taxes.

      These stories make good press, but I don't think they represent the majority of the winners. Most go on to live quietly and enjoy the freedom the money gives them. 

       

        csfb's avatar - Lottery-001.jpg

        United States
        Member #15309
        May 13, 2005
        307 Posts
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        Posted: April 16, 2006, 7:25 am - IP Logged

        666,666 says it all.if those numbers aren't cursed i don't know what is....

         

         

        Argue.....Evil Smile......Mad......Hit With Stick

        Ha, ha, ha... that is funny!


          United States
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          June 5, 2002
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          Posted: April 17, 2006, 1:23 pm - IP Logged

          It would seem that people who receive annuity payments, whether or not there was a cash option, are more likely to face problems than those who collected in lump sum.

            bellyache's avatar - 64x64a9wg

            United States
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            March 18, 2005
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            Posted: April 29, 2006, 1:14 pm - IP Logged

            It would seem that people who receive annuity payments, whether or not there was a cash option, are more likely to face problems than those who collected in lump sum.

            You know this how? Has there been research done that shows people who take annuity over cash are somehow more likely to lose their money. I would like to see proof of this.

            Dance like no one is watching.


              United States
              Member #379
              June 5, 2002
              11296 Posts
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              Posted: May 30, 2006, 9:55 am - IP Logged

              It would seem that people who receive annuity payments, whether or not there was a cash option, are more likely to face problems than those who collected in lump sum.

              You know this how? Has there been research done that shows people who take annuity over cash are somehow more likely to lose their money. I would like to see proof of this.

              People who win annuities are cursed. If they won all over again, I'm sure they would prefer cash.

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                New York, NY
                United States
                Member #13514
                April 7, 2005
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                Posted: May 31, 2006, 4:09 pm - IP Logged

                Sorry but I don't feel sorry for these folks.  I have a cousin who said this to me one day "If I win the lottery, I will be telling the rest of my family members to keep their jobs." I would do the same thing.  Folks want a bigger car?  TOUGH!!!  I'm good at say NO, NO, NO, NO, NO, NO If all else fails.F OFF!!!  Evil

                 

                I know for a fact I would have family members I NEVER hear from coming out of the wood work and I would tell them to crawl back under the rock they came out of.