tax issue regarding oversea lottery winnings

Reply #3

joshuakim — Fri, 24 Jul 2009 01:45:23 GMT

that is genius!...

not..

i really trust the soundness of the British Honduras financial institution enough to put all of my money into the former breakaway colony of GB.

and you are clearly in the wrong as even the financial giants like UBS and other Swiss institutions are getting bullied by the US Treasury Dept, what makes you think the govnt. of Belize wont be bullied into coughing up names of the american account holders?

all the safe havens are being choked off by the p... [ More ]

Reply #2

bigdaddy — Fri, 24 Jul 2009 01:09:46 GMT

put the money in belize bank account don't bring 2 usa,irs can't touch belize bank accounts,get a credit card from bank spend at will..declare bankruptcy in us if irs comes calling....

Reply #1

RJOh — Thu, 23 Jul 2009 06:28:07 GMT

Uncle Sam consider lottery winnings as regular income so you pay the same rate you would pay on regular income of the same amount.

tax issue regarding oversea lottery winnings

joshuakim — Thu, 23 Jul 2009 06:22:16 GMT

I understand that there is no cash option / annuity BS for Euromillions, Superenlatto, and other European lottery jackpot winners.

But as far as I know you still need to pay taxes on the amount won for being a U.S. citizen to uncle sam.

Would it be the full 35%? 25%?

And would that be everything uncle sam will be taking or will there be some other crap you have to deal with?

I just bought some Superenlattos and Aussie Powerball tickets and it made me curious - both will be dr... [ More ]