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'Daily Show' knocks Illinois for shortchanging lottery winners during budget battle

Topic closed. 17 replies. Last post 2 years ago by ArizonaDream.

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United States
Member #162434
January 2, 2015
1120 Posts
Posted: October 26, 2015, 6:59 pm - IP Logged

which begs the question, are IOU's taxed ?? 

I laughed at the picture of the guy holding the winning ticket, the commentary was classic humor!!

WOW! Good point, but I think since the winners do not have the money in there account the IRS cannot tax them.   But again, GREAT point, wonder what the IRS will do if this carries over into 2016? 

    United States
    Member #108380
    March 25, 2011
    505 Posts
    Posted: October 27, 2015, 10:01 am - IP Logged

    they will pay. just when is the question. rather hold a winning ticket i.o.u. than a stack of losing tickets any day. maybe they will pay interest (doubtful). probably could use i.o.u. as collateral to get bank loan at low interest if money is needed immediately. not the end of the world for the winners holding i.o.u.'s. like waiting for your tax refund. it never comes when you want it but shows up in mail eventually. frustrating, i'm sure for the ticket holders but no reason to stop playing because of this. they will pay. not a jamaican lottery scam like someone suggested. far from it.

      ArizonaDream's avatar - Lottery-009.jpg

      United States
      Member #169277
      October 10, 2015
      631 Posts
      Posted: October 27, 2015, 8:15 pm - IP Logged

      "rather hold a winning ticket i.o.u. than a stack of losing tickets any day"


      me too.  I've cut back on buying tickets to about half of what I was doing, but still getting in the game.