if you hit the pic 4

Reply #35

Ronnie316 — Mon, 22 Oct 2012 23:55:37 GMT

Have a nice Midday.....

Reply #34

Ronnie316 — Mon, 22 Oct 2012 23:54:29 GMT

If you had money for a lottery ticket, you had money to pay your taxes.

I think the Cards LOSE tonight....

Reply #33

KAL035 — Mon, 22 Oct 2012 23:52:55 GMT

Amen to that.

Reply #32

mcginnin56 — Mon, 22 Oct 2012 23:51:21 GMT

The government is the biggest thief out there.

And they frown on any competition.

Reply #31

KAL035 — Mon, 22 Oct 2012 23:49:34 GMT

you got robbed

Reply #30

MzDuffleBaglady — Mon, 22 Oct 2012 11:36:08 GMT

Do you still owe?

I have a friend, she won $1,000 on a scratch off, went to the local office to cash it, they gave her a check for $0.000 also, clerk said her husband owed the IRS.

Reply #29

mcginnin56 — Mon, 22 Oct 2012 10:45:54 GMT

None of the above, you report the income on your annual tax return.

Save the hacksaw and bolt cutters to help you get out of prison for tax evasion.

Reply #28

mcginnin56 — Mon, 22 Oct 2012 10:37:15 GMT

As the old saying goes, it takes money to make money.

Reply #27

onlymoney — Mon, 22 Oct 2012 01:40:05 GMT

Funny you say this cause just a few days ago I heard a partial list of the government waste and one of them was about the cost of making a penny. It costs 2 cents to manufacture a penny. They said it costs the government about 120 million a year just to make pennies.

Reply #26

grwurston — Mon, 22 Oct 2012 01:35:06 GMT

So how will they cut it up to get their share? Hacksaw, band saw, bolt cutters? And do they write you a check which will cost

45c to mail? Because it will have to be documented. And don't forget to get a receipt. And save it for 3 years in case they

audit you.

Reply #25

Stack47 — Mon, 22 Oct 2012 01:10:44 GMT

http://www.kylottery.com/export/kylmod/galleries/documents/KYLottery_prize_claim/claimform2011-12-21-094551.pdf

That's same claim form I filled out last month when I hit the pick-4 and the clerk handed me a W2-G and the cash. Your winnings will be reported to the IRS after the Lottery gets the claim form, but there is nothing to deduct because you should already have the winnings.

I don't know the process in Kentucky for collecting winnings over $5000 and up to $25,000 but the claim must b... [ More ]

Reply #24

mcginnin56 — Sun, 21 Oct 2012 21:26:47 GMT

Sir your integrity is intact.

With more people like you, billions more of our missing pennies, could be recovered throughout this great nation.

Having lost a penny once or twice in my life, I thank you for the helpful reminder. God bless you, and may he watch over your pennies always.

Reply #23

ESR54 — Sun, 21 Oct 2012 21:08:02 GMT

My friend that is the right way to go.Thank you.

Reply #22

onlymoney — Sun, 21 Oct 2012 21:07:43 GMT

Actually the proper procedure is to take the penny to the local police department and if it isn't claimed within 30 days, you can get to keep it.

Reply #21

mcginnin56 — Sun, 21 Oct 2012 20:54:59 GMT

Sure why not?

If I find a penny on the street, I immediately report it to uncle Sam.

Reply #20

onlymoney — Sun, 21 Oct 2012 20:52:36 GMT

No, but technically it's taxable income.

Reply #19

grwurston — Sun, 21 Oct 2012 20:47:25 GMT

So if you win $2.00 on a scratch off, you're going to report it on your taxes

Reply #18

onlymoney — Mon, 15 Oct 2012 00:43:06 GMT

Any win amount is taxable. It's a misconception when people say I don't have to pay taxes because my p-3 lottery win was under $599.00. The IRS has to draw a line of 599 because they don't want to spend the time and money to go after petty amounts, but it's still taxable income.

Reply #17

rdgrnr — Mon, 15 Oct 2012 00:28:25 GMT

I don't like them revenooers much my ownself neither.

Reply #16

Ronnie316 — Mon, 15 Oct 2012 00:04:12 GMT

Well... When you have a few extra trillion to give away, you need all the help you can get.

Reply #15

mcginnin56 — Mon, 15 Oct 2012 00:00:59 GMT

This administration would actually prefer illegal immigrants, to give away our tax payer money. It's just the right thing to do, for goodness sake.

Reply #14

rew1230 — Sun, 14 Oct 2012 23:39:39 GMT

and it was only $2600

Reply #13

rew1230 — Sun, 14 Oct 2012 23:38:11 GMT

last time i hit they gave me a check for$0.00 and said i owed back taxes

Reply #12

Stack47 — Sun, 14 Oct 2012 23:34:59 GMT

You must be talking about winning over $5000 when the lottery must deduct 25% in Federal taxes and it might trigger an IRS audit. For winnings $5000 and under, just take the ticket to a cashing agent, fill out the form, they'll give you a W-2G and the cash.

One of the reasons many states don't allow anonymity for large jackpot winners is because of their open public record laws. The states that do allow anonymity still check the winners for back taxes, student loans, warrants, child support,... [ More ]

Reply #11

mcginnin56 — Sun, 14 Oct 2012 23:25:20 GMT

Just don't be mentioning that too loudly while in San Francisco.

Reply #10

Ronnie316 — Sun, 14 Oct 2012 23:17:38 GMT

I feel that one extra benefit would help my self-esteem. Don't deprive me of my pride.....

Reply #9

mcginnin56 — Sun, 14 Oct 2012 23:14:58 GMT

Now wait a minute!...now you've drawn the line

Reply #8

Ronnie316 — Sun, 14 Oct 2012 23:09:11 GMT

Only if it comes with free medical care........

Reply #7

mcginnin56 — Sun, 14 Oct 2012 23:07:48 GMT

Don't forget the complimentary welfare check, food stamps, and federal government rental car. All at no extra charge of course.

Reply #6

Ronnie316 — Sun, 14 Oct 2012 23:01:34 GMT

A phone and a laptop for every occupant. (citizenship not needed

Reply #5

onlymoney — Sun, 14 Oct 2012 23:01:20 GMT

You can always ask a trusted friend to cash it in his/her name and offer 10% for their trouble.

Reply #4

onlymoney — Sun, 14 Oct 2012 22:59:45 GMT

And a new phone

Reply #3

mcginnin56 — Sun, 14 Oct 2012 22:58:22 GMT

Your right, go see Obama, he will give you a blank check to get your PhD. No questions asked, or answers given.

Reply #2

Ronnie316 — Sun, 14 Oct 2012 22:54:21 GMT

Higher education should be a right

Reply #1

mcginnin56 — Sun, 14 Oct 2012 22:49:02 GMT

Some states audit you when you claim a lottery prize, to see if you are a deadbeat parent, or owe money to the state.

Owing money to the federal government with student loans, you might be able to sneak under the radar.

But why chance it? Just pay your student loan.

if you hit the pic 4

rew1230 — Sun, 14 Oct 2012 22:42:04 GMT

when you hit for so much and owe irs lottery commission takes your money---if you owe student loans can they take your winnings as well