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Two winning $1 million Mega Millions tickets sold in Texas set to expire in a monthReply
No, I doubt the two ticket buyers are getting their duck in a row before claiming the prize. Their prize is one million dollars each, which will be less after taxes. There is no need to get any ducks in a row. The tickets were purchased back in July, that far back, the tickets most likely have been thrown away or misplaced.
Dec 16, 2022, 6:40 am - winterhug - Lottery News

Massachusetts father and son found guilty of fraud after cashing in $20M worth of lottery ticketsReply
They are being charged with a tax evasion scheme, The collection of taxes on winnings is a scheme. You should be allowed to cash other people's tickets, as long as you don't claim the income as a loss. Because of the law that winnings over a certain amount is taxable, any effort to circumvent this rule is a crime. And Donald Trump doesn't have to submit tax forms.
Dec 14, 2022, 9:12 am - Tony Numbers - Lottery News

Americans gamble over half a trillion dollars illegally each year, AGA Report saysReply
Mind you, this was 20+ years ago. I worked for an OTB. We checked with lawyers and Federal people, and placing a bet outside the US was very legit. We couldn't take any bets inside the United States. I feel they are lying because they don't get tax revenue from this. Unless laws have changed, which I doubt, betting off US soil is not illegal. Just because of the I.R.S. not getting their taxes does not make it illegal.
Dec 6, 2022, 5:19 am - Holloway1969 - Lottery News

$1.6 BILLION: Powerball jackpot sets all-time record as ticket sales surge across the USAReply
The big question is if I should take the annuity or the cash when I win this one! Normally I would say take the cash, but with the interest rates what they are, the annuity is tempting. Plus, with the annuity payments being so large, I would not have to really worry about investing and could just sit back and live the rest of my life with no worries or stress about investing. Though having $400 million plus after taxes is pretty tempting too!
Nov 4, 2022, 6:45 pm - Poo Nanny - Lottery News

$825 MILLION: Powerball jackpot raised due to surging ticket salesReply
You know it's a great jackpot when you basically don't care about the amount of taxes that will be taken out upfront. This will be the greatest Halloween in history for one lucky player.
Oct 28, 2022, 2:25 pm - Mata Garbo - Lottery News

$800 MILLION: Powerball lottery jackpot surges on rolloverReply
No, I won't be playing 1-2-3-4-5-6 because according to statistics 10K play this number on a daily basis. I can't imagine how much money each person would get after taxes from $800M. Reminds me of the TV show Lost . A bunch of people played Hurley's lottery number. Four of the six number came out and each person got $150
Oct 27, 2022, 5:27 pm - winterhug - Lottery News

Two Illinois lottery winners in a partnership claim $1.34 billion Mega Millions jackpotReply
You can say that again. Uncle Sam is even an UNINVITED PARTNER. Lottery winnings should never be taxed. We work and we pay taxes. We play with already taxed income, we win and we shouldn't be taxed because if we lose, they don't refund us our money.
Sep 22, 2022, 2:19 am - mypiemaster - Lottery News

Major claim deadline approaching for Illinois lottery winner of $1.337 billion Mega Millions jackpotReply
Estates do not have to be settled all at once. An estate can stay open for years and carry on income producing businesses. They can also advise potential Trust Granters of ways trusts can give to nonprofits and doing so may give the trust a good refund when the Trusts Taxes (1041) s and state forms are filed.
Sep 17, 2022, 6:36 pm - Retired Banker - Lottery News

Major claim deadline approaching for Illinois lottery winner of $1.337 billion Mega Millions jackpotReply
I invite you to take a look at this site: https://www.usamega.com/ Then look at the Jackpot Analysis under both games. Take a good look at the first line regarding the Federal Tax over time for the annuity payments and the sudden extremely large Cash Jackpot Prize. Go down and find your state on the list and like to it notice the SMALLER FEDERAL TAX payments for fed and state taxes. Are you aware that there are about seven states where there are no State Income Taxes and even a few
Sep 14, 2022, 2:17 pm - Retired Banker - Lottery News

Major claim deadline approaching for Illinois lottery winner of $1.337 billion Mega Millions jackpotReply
No, most people would take the lump sum. No one really knows what is going on inside their state government which is holding one's annunity. You look up one day and the money just might be gone. Most of us don't care about paying the taxes because at the end of the day, it is STILL more more that we are getting then we have ever had before. Take the lump sum...
Sep 13, 2022, 10:38 am - winterhug - Lottery News