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Record Powerball jackpot won by 1 ticket

Topic closed. 233 replies. Last post 3 years ago by jamella724.

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United States
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September 7, 2011
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Posted: May 22, 2013, 10:09 am - IP Logged

If the winner(s) decide to bypass tax and legal advice, then paying 39.6% might be a reality. Mitigating millions in possible deductions doesn't come easy but I will assume that a few here at LP feel they can take on the IRS without the need for any professional help.

A very generous individual could donate ALL their winnings to charity and actually get a refund back from the IRS...I think it's safe to say it won't be happening anytime soon.

A very generous individual could donate ALL their winnings to charity and actually get a refund back from the IRS...I think it's safe to say it won't be happening anytime soon.

By all means Jill, please explain to us (little people) how giving to a charity entitles the giver to a refund?

    Jill34786's avatar - Lottery-006.jpg
    Windermere, FL/Franklin, TN
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    Posted: May 22, 2013, 10:10 am - IP Logged

    Another really stupid assumption Jill. I think its reasonable to believe that anyone who is smart enough to come up with $300 million in losing tickets is smart enough to realize that they will need to explain where they got them. Besides that I think the whole point of NOT paying 39% tax went right over your head.

    You're too intelligent for your own good. I have no doubt you think you have the capacity to outwit the IRS, tax laws/loop holes and mitigate tax obligations to zero.

    You're such a genius!

    ** Some people fulfill their dreams by receiving entitlements from the Government while others wake up and work hard for it! **

      Jill34786's avatar - Lottery-006.jpg
      Windermere, FL/Franklin, TN
      United States
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      Posted: May 22, 2013, 10:16 am - IP Logged

      A very generous individual could donate ALL their winnings to charity and actually get a refund back from the IRS...I think it's safe to say it won't be happening anytime soon.

      By all means Jill, please explain to us (little people) how giving to a charity entitles the giver to a refund?

      Ronnie- You need to activate that brain of yours. I will explain this as simply as I can:

      When someone wins a large lottery prize, 25% will be deducted automatically for Federal taxes.

      That someone decides to donate all their winnings to charity thereby reducing their taxable income to zero thus  making their tax obligation 0.

      That generous individual will get back a large portion of the 25% Federal tax that was initially deducted.

       

      Hopefully you can comprehend that Wink

      ** Some people fulfill their dreams by receiving entitlements from the Government while others wake up and work hard for it! **


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        Posted: May 22, 2013, 10:21 am - IP Logged

        You're too intelligent for your own good. I have no doubt you think you have the capacity to outwit the IRS, tax laws/loop holes and mitigate tax obligations to zero.

        You're such a genius!

        More stupid and false assumption Jill? I may have implied those things, but I never said them.


          United States
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          Posted: May 22, 2013, 10:27 am - IP Logged

          Ronnie- You need to activate that brain of yours. I will explain this as simply as I can:

          When someone wins a large lottery prize, 25% will be deducted automatically for Federal taxes.

          That someone decides to donate all their winnings to charity thereby reducing their taxable income to zero thus  making their tax obligation 0.

          That generous individual will get back a large portion of the 25% Federal tax that was initially deducted.

           

          Hopefully you can comprehend that Wink

          Again Jill, your assumptions that other people are beneath you betrays you. If a person gave ALL their winnings to a specific charity the check could be directed to the charity and no taxes would be withhold.

            Jill34786's avatar - Lottery-006.jpg
            Windermere, FL/Franklin, TN
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            Posted: May 22, 2013, 10:29 am - IP Logged

            More stupid and false assumption Jill? I may have implied those things, but I never said them.

            "I may have implied those things, but I never said them."

             

            Sounds like the IRS executives being questioned at the Capital could have used that line.

            ** Some people fulfill their dreams by receiving entitlements from the Government while others wake up and work hard for it! **


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              Posted: May 22, 2013, 10:34 am - IP Logged

              "I may have implied those things, but I never said them."

               

              Sounds like the IRS executives being questioned at the Capital could have used that line.

              The IRS executives are not their for "discussion" so your point is a little twisted as are many of your points.

                Jill34786's avatar - Lottery-006.jpg
                Windermere, FL/Franklin, TN
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                Posted: May 22, 2013, 10:35 am - IP Logged

                Again Jill, your assumptions that other people are beneath you betrays you. If a person gave ALL their winnings to a specific charity the check could be directed to the charity and no taxes would be withhold.

                Wow! you just love to twist these statements. You should replace Jay Carney as I have nio doubt you will do well!

                Once again, I am referring to someone who collects their lottery prize and not someone who simply gives their winning ticket to a charity.

                The odds of either scenario happening is even higher than those of actually winning the grand prize.

                ** Some people fulfill their dreams by receiving entitlements from the Government while others wake up and work hard for it! **

                  Jill34786's avatar - Lottery-006.jpg
                  Windermere, FL/Franklin, TN
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                  Posted: May 22, 2013, 10:39 am - IP Logged

                  The IRS executives are not their for "discussion" so your point is a little twisted as are many of your points.

                  I mentioned that the IRS executives were being questioned by Congress. You somehow equate that to having a "discussion" .

                  It is pretty evident that it is you who enjoys twisting the truth.

                  ** Some people fulfill their dreams by receiving entitlements from the Government while others wake up and work hard for it! **


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                    Posted: May 22, 2013, 10:41 am - IP Logged

                    Wow! you just love to twist these statements. You should replace Jay Carney as I have nio doubt you will do well!

                    Once again, I am referring to someone who collects their lottery prize and not someone who simply gives their winning ticket to a charity.

                    The odds of either scenario happening is even higher than those of actually winning the grand prize.

                    Nice that you feel so comfortable being condescending toward others, but your wrong again as their are many more in this world (not like you) than 1 in 175.000.000 who would give ALL their winning to charity.


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                      Posted: May 22, 2013, 11:25 am - IP Logged

                      I mentioned that the IRS executives were being questioned by Congress. You somehow equate that to having a "discussion" .

                      It is pretty evident that it is you who enjoys twisting the truth.

                      Let me guess... "the truth" in your twisted mind, only exists in a book of myths and fairy tales?

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                        Posted: May 22, 2013, 8:48 pm - IP Logged

                         Let's just stay away from any political mumbo jumbo shall we?

                         Now I don't envy the winner of $600 mil. Actually I pity for the winner. I am totally happy with the minimum jackpot amount because I just need a lil boost, not some earth-shattering fortune.


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                          Posted: May 22, 2013, 10:29 pm - IP Logged

                          Nice that you feel so comfortable being condescending toward others, but your wrong again as their are many more in this world (not like you) than 1 in 175.000.000 who would give ALL their winning to charity.

                          "Nice that you feel so comfortable being condescending toward others, but your wrong again as their are many more in this world (not like you) than 1 in 175.000.000 who would give ALL their winning to charity."

                          Might YOU be one of those who would give ALL their winnings to charity?


                            United States
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                            Posted: May 23, 2013, 8:21 pm - IP Logged

                            "Nice that you feel so comfortable being condescending toward others, but your wrong again as their are many more in this world (not like you) than 1 in 175.000.000 who would give ALL their winning to charity."

                            Might YOU be one of those who would give ALL their winnings to charity?

                            How did you guess Jammy?


                              United States
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                              Posted: May 23, 2013, 8:29 pm - IP Logged

                              You're too intelligent for your own good. I have no doubt you think you have the capacity to outwit the IRS, tax laws/loop holes and mitigate tax obligations to zero.

                              You're such a genius!

                              I think he should just mail it in................

                              http://www.lotterypost.com/news/182485

                                 
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