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where's the pb winner

Topic closed. 22 replies. Last post 11 years ago by BaristaExpress.

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Sparta, NJ
United States
Member #18331
July 9, 2005
1977 Posts
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Posted: November 3, 2005, 10:18 am - IP Logged

Now we need TWO Powerball winners to step up!

How often would MUSL be placed in a position, where some one calls and says "I won the jackpot" and they would have to ask, "which one?"

Cheers

|||::> *'`*:-.,_,.-:*''*:--->>> Chewie  <<<---.*''*:-.,_,.-:*''* <:::|||

I only trust myself - and that's a questionable choice

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    Morrison, IL
    United States
    Member #4657
    May 13, 2004
    1884 Posts
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    Posted: November 3, 2005, 10:35 am - IP Logged

    lol It may have happened quite a bit this year due to that bs winning streak from January - March.

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      new delhi
      India
      Member #22145
      September 20, 2005
      174 Posts
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      Posted: November 3, 2005, 10:37 am - IP Logged

      I wonder what he looks like...how come no photo ops?

      Maybe he is wanted by the law or has a bunch of out of wedlock kids?

      funny funny!!

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        BILOXI, MISSISSIPPI
        United States
        Member #19651
        August 3, 2005
        621 Posts
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        Posted: November 3, 2005, 10:40 am - IP Logged

        and a mm winner  fox news would be jumping

          BaristaExpress's avatar - BaristaExpressMX zpsfb0d8b5d.png
          Magnolia, Delaware
          United States
          Member #18795
          July 20, 2005
          789 Posts
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          Posted: November 3, 2005, 2:47 pm - IP Logged

          I would hope he's seen an expert on that but since he doesn't have the money until he claims the prize it would be taxed based on when he picks up the check not based on when he won.

          dvdiva, sorry you're still incorrect on your statement! Remember when Jack won his millions on Christmas day in 2002? Well, he claimed his money/check after the first of the year! Yes, uncle sam took their money before he received his check in 2003. But he had to claimed the money on his taxes for the 2002 tax year, which in turn is the very same year he won the jackpot, so it's doesn't matter when you pick up the check, it goes by when the jackpot was won!

          Heck, I even remember one year when the PB or MM went off on New Years night and one person won the jackpot! And even the lottery people said that the winnings would have to be claimed on their taxes for the year that the jackpot was won in! 

          Keep dreaming the impossible dream, it just may come true! Thumbs Up

            dvdiva's avatar - 8ball

            United States
            Member #2338
            September 17, 2003
            2063 Posts
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            Posted: November 3, 2005, 10:07 pm - IP Logged

            I've always been under the impression it's when you pick up the check but since I haven't won I haven't looked at it closely. Wonder if there was an initial case that changed it.

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              Sparta, NJ
              United States
              Member #18331
              July 9, 2005
              1977 Posts
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              Posted: November 4, 2005, 8:48 am - IP Logged

              Tax wise, it should be just like any other income. Earned/unearned income is accredited on the date of the performance; in this case, it would be 2005.

              But, it appears to be mute now. New conference on Tuesday will make it 2005.

              Cheers

              |||::> *'`*:-.,_,.-:*''*:--->>> Chewie  <<<---.*''*:-.,_,.-:*''* <:::|||

              I only trust myself - and that's a questionable choice

                BaristaExpress's avatar - BaristaExpressMX zpsfb0d8b5d.png
                Magnolia, Delaware
                United States
                Member #18795
                July 20, 2005
                789 Posts
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                Posted: November 4, 2005, 11:55 am - IP Logged

                Lets see if I can explain this in simple terms, so it can be understood. Income is income no matter what (right?), of course it is! Lets say, you won some money in what ever tax year and you have up to 365 days from the "date" of winning said money to go claim/collect your winnings. What is the IRS going to go by for said "income"?  Is the IRS going to go by when you claimed your money (365 days after you won)? or is the IRS going to go by the original date you won the money? This is a no brainier! The IRS is going to go by the original date the money was won! The reason is, because it puts you into a higher tax bracket which in turns generates more money for them to collect for that tax year because of your good fortune that year! The IRS isn't going to give you a reprieve from the taxes that the money had just generated for them, just because you had an option of up to 365 days to claim it and that's what you decided to do! 

                Now on the other hand, you could have just as well went the next day to claim the money! And if that was the case, is the IRS going to let you claim the money on next years income taxes just because you had the option of up to 365 days to claim it? I Don't Think So! Now, what does this tell you? The IRS is going to make you claim the money in the tax year the "money was originally won in"(the original date).

                Keep dreaming the impossible dream, it just may come true! Thumbs Up