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if you found a winning ticket that wasn't yours

Topic closed. 194 replies. Last post 9 years ago by psykomo.

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if you found a winning ticket that wasn't yours that was worth millions what would you do?

keep it for yourself [ 69 ]  [65.71%]
return it to the lottery office [ 5 ]  [4.76%]
ponder the possibilities [ 10 ]  [9.52%]
give it to the store owner [ 0 ]  [0.00%]
offer it to passerby [ 0 ]  [0.00%]
give it to charity [ 0 ]  [0.00%]
smoke a cigar [ 0 ]  [0.00%]
call a lawyer [ 9 ]  [8.57%]
get a number 3 on the dollar menu(frosty included) [ 4 ]  [3.81%]
other [ 8 ]  [7.62%]
Total Valid Votes [ 105 ]  
Discarded Votes [ 3 ]  
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md
United States
Member #14047
April 20, 2005
579 Posts
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Posted: May 29, 2007, 7:59 pm - IP Logged

When I left Vegas in 1993 there as an interesting case going on, I'm not sure what the outcome was.

Read on.

This is when he casinos first started going to slots that racked up credits instead of dropping coins into the coin tray. A lot of players were used to those old coin tray payouts and would get up and leave thinking they were losers, but they weren't. They were just unaware that the machine they'd been playing had credits on them.

Well, there were people who would go through the casinos in the "wee hours" of the morning just looking to see if a machine had credits on it and of they did, cash out, take the coins, and go to the cage.

Even in Vegas not much goes on during the middle of the graveyard shift, so things and people are a lot more noticeable. One of the casino's surveillance directors spotted a coupld of fguys doing this and had security waiting for them at the cage. When they attempted to turn in the coins and tokens for cash, they were told it was the casino's money.

One of the guys said, "The hell it is. It's money that you let winning customers walk away from without informing them they were winners."

Like I said, I don't know what the outcome was, but it did go to court. Of course, it would have been a Nevada court, so advantage to the casino, but still, an interesting case.

Ditto

    psykomo's avatar - animal shark.jpg

    United States
    Member #4877
    May 30, 2004
    5114 Posts
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    Posted: May 30, 2007, 1:00 am - IP Logged

    I think it's called Alzheimers in every state - my Dad died of it.

    I think it's called............Alzheimers....222!!

    I had already voted in this POLL when I logged ON and SEEN>>>>

    MY VOTE..........................with a (CHECK)????????????????????????

    stating  ...........................I would KEEP the TICKET.................TOO!!!

    REALLY  ...........................NOT like PSYKOMO 2 not EXPRESS!!!!!!!!!!

    an OPINON>>>>>>>>>>???????????????!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    THIS POLL is HARSH, BUT.......................................................FAIR>>

    TAKE a L@@K @@@@@@>>>>>>>>>>>>>>>>>>>>>OURSELVE's

    ODD's of finding a JACKPOT ticket is greater than wining JACKPOT!!

    LOL

    PSYKOMOPukePukeLovies


      United States
      Member #17555
      June 22, 2005
      5582 Posts
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      Posted: May 30, 2007, 1:45 am - IP Logged

      I think it's called............Alzheimers....222!!

      I had already voted in this POLL when I logged ON and SEEN>>>>

      MY VOTE..........................with a (CHECK)????????????????????????

      stating  ...........................I would KEEP the TICKET.................TOO!!!

      REALLY  ...........................NOT like PSYKOMO 2 not EXPRESS!!!!!!!!!!

      an OPINON>>>>>>>>>>???????????????!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

      THIS POLL is HARSH, BUT.......................................................FAIR>>

      TAKE a L@@K @@@@@@>>>>>>>>>>>>>>>>>>>>>OURSELVE's

      ODD's of finding a JACKPOT ticket is greater than wining JACKPOT!!

      LOL

      PSYKOMOPukePukeLovies

      You make a great point. We're debating over something that has a hundred times more difficulty to come out, than a regular drawing.

      Let's start with the pick-3, with a thousand to one, the lowest odds of a jackpot 500 dollar win. Gotta crawl before we can walk.

        LOTTOMIKE's avatar - cash money.jpg
        Tennessee
        United States
        Member #7853
        October 15, 2004
        11338 Posts
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        Posted: May 30, 2007, 9:58 pm - IP Logged

        i'm going to go ahead and say this.i put trust in my sister when i won that 2,500 dollar pick 4 straight back in february.i paid her a couple hundred to cash it in for me.i just don't want all that extra money taken out of my tax return at the end of the year.i knew i could trust her to sign her name on that ticket but it took trust because anybody could just take it and then try to claim it as their own once you put that faith in them.it is a bearer instrument which means the person that signs the back gets the dough.

          justxploring's avatar - villiarna
          Wandering Aimlessly
          United States
          Member #25360
          November 5, 2005
          4461 Posts
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          Posted: June 5, 2007, 3:46 am - IP Logged

          Mike, giving someone a ticket isn't illegal.  People give tickets away as gifts all the time.  Also, giving/lending money to someone isn't illegal either.  Many people give $1,000 or more as a wedding or graduation gift.  So nobody would ever question it.  I doubt if the IRS is looking for people who cash $2,500 lottery tickets and wondering what they do with the money as long as all the proper paperwork is completed, including tax forms.  However, tax evasion is illegal.   And you just admitted it on this board.

            KyMystikal's avatar - 1457224010054
            Florence, Alabama
            United States
            Member #8658
            November 13, 2004
            1993 Posts
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            Posted: June 5, 2007, 5:08 am - IP Logged

            Mike, giving someone a ticket isn't illegal.  People give tickets away as gifts all the time.  Also, giving/lending money to someone isn't illegal either.  Many people give $1,000 or more as a wedding or graduation gift.  So nobody would ever question it.  I doubt if the IRS is looking for people who cash $2,500 lottery tickets and wondering what they do with the money as long as all the proper paperwork is completed, including tax forms.  However, tax evasion is illegal.   And you just admitted it on this board.

             I know a lot of people who do that. I also know married couples who file taxes to different addresses so the wife can claim head of household and get back a big return.

            Question??? If you have a hunch on a number and play it say $1.00 str 10 times on seperate tickets as apposed to playing it all on one ticket, is that tax evasion???? On the ticket with the number 10 times you would have to pay taxes because that ticket would be worth $5,000 and you  would get a W-2G. The single tickets you wouldn't because each ticket would be worth $500 each and there would be no record of it. 

             Mike, that number 3 was good.  I also got a vanilla frosty but it upset my stomach because I'm lactose intolerant.

            I love doubles and remember, it's just a game!!!!!!

              Coin Toss's avatar - shape barbed.jpg
              Zeta Reticuli Star System
              United States
              Member #30470
              January 17, 2006
              10345 Posts
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              Posted: June 5, 2007, 9:50 am - IP Logged

              Mike, giving someone a ticket isn't illegal.  People give tickets away as gifts all the time.  Also, giving/lending money to someone isn't illegal either.  Many people give $1,000 or more as a wedding or graduation gift.  So nobody would ever question it.  I doubt if the IRS is looking for people who cash $2,500 lottery tickets and wondering what they do with the money as long as all the proper paperwork is completed, including tax forms.  However, tax evasion is illegal.   And you just admitted it on this board.

              And named his siter as an accomplice!

              Scared

              Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

              Lep

              There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

                justxploring's avatar - villiarna
                Wandering Aimlessly
                United States
                Member #25360
                November 5, 2005
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                Posted: June 5, 2007, 10:26 am - IP Logged

                I'm not going to get into a big discussion about the IRS or ethics. I don't think the prizes should be taxed at all.   But since you asked:

                "If you have a hunch on a number and play it say $1.00 str 10 times on seperate tickets as apposed to playing it all on one ticket, is that tax evasion???? "

                Yup!!  For some reason people here think you're not supposed to report winnings or income under $600.  That's not true.  The law is that these payments must be reported by an employee or the payor. That's why you can't cash an $800 ticket at a gas station or convenience store, but you can go to a local Lottery Office and, in some states, a Bank or authorized Payor to complete the forms and get paid.  So basically, if you win small amounts and don't claim them and don't sign your ticket, you can get away with it..that's all.  However, if I worked at Job A for a week and earned $500 and then I worked at Job B for only 2 days and earned $250 and another Job for only a day and made $100, I still need to report that income on my taxes unless my total income for the year falls under the IRS guidelines for filing. 

                For some reason, people take this rule and twist it around.  It is NOT TRUE that income under $600 doesn't need to be reported when filing personal income tax.  All income is taxable as are all lottery prizes.  So what Mike might have been saying is that his sister is in a very low income bracket or makes less than $5,000 so she doesn't file taxes because she earns less than the minimum (don't know the exact figure, but it's around $7,800 for a single and $13,500 for a married couple)  Hypothetically, that $2,500 could actually put her into a taxable income bracket if she has earnings over $5,500.  Then she'll be worse off for doing him a favor.  Anyway, talking about this scenario could go on and on, but the answer, plain & simple, is ALL income needs to be reported or it's evading taxation. However, how is anyone going to prove you won $500?


                  United States
                  Member #17555
                  June 22, 2005
                  5582 Posts
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                  Posted: June 5, 2007, 10:37 am - IP Logged

                  I'm not going to get into a big discussion about the IRS or ethics. I don't think the prizes should be taxed at all.   But since you asked:

                  "If you have a hunch on a number and play it say $1.00 str 10 times on seperate tickets as apposed to playing it all on one ticket, is that tax evasion???? "

                  Yup!!  For some reason people here think you're not supposed to report winnings or income under $600.  That's not true.  The law is that these payments must be reported by an employee or the payor. That's why you can't cash an $800 ticket at a gas station or convenience store, but you can go to a local Lottery Office and, in some states, a Bank or authorized Payor to complete the forms and get paid.  So basically, if you win small amounts and don't claim them and don't sign your ticket, you can get away with it..that's all.  However, if I worked at Job A for a week and earned $500 and then I worked at Job B for only 2 days and earned $250 and another Job for only a day and made $100, I still need to report that income on my taxes unless my total income for the year falls under the IRS guidelines for filing. 

                  For some reason, people take this rule and twist it around.  It is NOT TRUE that income under $600 doesn't need to be reported when filing personal income tax.  All income is taxable as are all lottery prizes.  So what Mike might have been saying is that his sister is in a very low income bracket or makes less than $5,000 so she doesn't file taxes because she earns less than the minimum (don't know the exact figure, but it's around $7,800 for a single and $13,500 for a married couple)  Hypothetically, that $2,500 could actually put her into a taxable income bracket if she has earnings over $5,500.  Then she'll be worse off for doing him a favor.  Anyway, talking about this scenario could go on and on, but the answer, plain & simple, is ALL income needs to be reported or it's evading taxation. However, how is anyone going to prove you won $500?

                  I'd have to totally disagree with you on this one. Any income under 600 bucks is not taxable income. That also is applied to any monies received by anyone under 600 bucks. Whether it's a gift or prize money from a radio station raffle or whatever.


                    United States
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                    June 22, 2005
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                    Posted: June 5, 2007, 10:41 am - IP Logged

                    I forgot to mention that the examples you give have to do with earnings. they are taxable, unless the total at the end of the year, like you said is higher than the minimum, but gifts and prizes do not fall under that rule.

                    That's a fact.

                      Coin Toss's avatar - shape barbed.jpg
                      Zeta Reticuli Star System
                      United States
                      Member #30470
                      January 17, 2006
                      10345 Posts
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                      Posted: June 5, 2007, 10:46 am - IP Logged

                      Justxploring

                      "For some reason, people take this rule and twist it around.  It is NOT TRUE that income under $600 doesn't need to be reported when filing personal income tax.  All income is taxable as are all lottery prizes. "

                       I'm not sure about that either. Don't forget where the Pick3 came from, it's a carbon copy of the numbers game  or 'policy' that bookies ran (and still run) way before there were even state lotteries.

                      Let's juy, theorhetically anyway, if any state said it was going to start taxing Pick 3 payouts, a lot of players would be playing with "their man" instead of the state. 

                      Part of the draw of the Pick 3 game is if you hit you just turn in your ticket and get paid, no forms, no paperwork.

                      Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

                      Lep

                      There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

                        justxploring's avatar - villiarna
                        Wandering Aimlessly
                        United States
                        Member #25360
                        November 5, 2005
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                        Posted: June 5, 2007, 10:51 am - IP Logged

                        Pac, you are very, very wrong.    I know this for a fact.  Call the IRS.  Why do people on this board make up their own rules?  The only way you don't have to report income from a job is when you don't make enough to file taxes to begin with.

                        I've worked at many places where I only made a few hundred and I still received a 1099 or W-2 (if I was an employee)  If they don't report this to the IRS, chances you won't get audited, but technically it is income.  If you get cash, that's even better!  What you are suggesting is that someone who goes out on a job for a day and earns $200 can just pocket the money, which isn't true. 

                        A gift is different.  No recipient of a gift, no matter how much it is, has to report the money.  The person who gives it is reponsible unless other arrangements have been made.  So even the Gift Tax we always talk about is the responsibility of the giver, not the receiver.  By the way, I'm quite certain that the IRS isn't hunting around for people who send presents to their friends and family.  They are looking for people who are trying to hide their wealth or avoid estate tax when they die.


                          United States
                          Member #17555
                          June 22, 2005
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                          Posted: June 5, 2007, 11:01 am - IP Logged
                          Q. What percentage in taxes will the Lottery withhold from my prize?
                           

                           

                          Straight from the horses mouth.

                          The Internal Revenue Service requires the Florida Lottery to report all winnings for $600 and above for U.S. citizens and resident aliens.

                          http://www.flalottery.com/inet/aboutus-questionsMain.do#Q3

                            justxploring's avatar - villiarna
                            Wandering Aimlessly
                            United States
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                            November 5, 2005
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                            Posted: June 5, 2007, 11:10 am - IP Logged

                            I started out by saying I didn't want to get into a long discussion about this, because people here are misinterpreting the rules.  Where is KY Floyd when I need him?  LOL

                            Yes, it is required that income or prizes over $600 need to be reported by the Payor.  It DOES NOT say you don't have to claim it as income.  Where does it say that? 

                            Anyway, there would be no reason to do it if it was never reported, unless you have a guilty conscience and feel sorry for the IRS.  I was only answering a question that asked if, by cashing in ten $500 winning tickets instead of claiming one $5,000 ticket it would be avoiding taxes and the answer is YES.  Isn't that why someone would do that?? 

                            I don't want to keep writing about this, since you can do what you want and continue to get paid for jobs and not report your income.  I am an independent contractor and report everything I earn doing my job.  That is what you are supposed to do.  When those passengers you mention hand you a nice $50 tip, you are supposed to keep a record of that. If you don't want to keep a record of your tips and put the money in your pocket, that is totally up to you.  The Law reads that all income and tips must be reported. Case closed.


                              United States
                              Member #17555
                              June 22, 2005
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                              Posted: June 5, 2007, 11:17 am - IP Logged

                              I'm not making this up. I've seen many documents saying the very thing I am. Not only that, but I worked with an ex tax worker in NY.

                              It's common sense. If the 599 bucks is taxable, then why don't they require you to fill out papers? It's federal law, very simple. The limit is 599, anything over is taxable.

                              I've talked to many many people about this and they all agree, including but not limited to store owners, bosses, and just about everyone in between.

                              I guess they are all wrong, including the ex-tax preparer I knew....LOL

                                 
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