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California 1/3 Billion Dollar Powerball Ticket Lost?

Topic closed. 63 replies. Last post 7 months ago by TheMeatman2005.

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Portland, OR
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Posted: April 24, 2016, 3:39 pm - IP Logged

"They are already required to take installment payments I believe."

I think the Florida winners had to claim within 60 days if they wanted the lump sum, but that's based on Florida lottery rules that only allow the annuity if you wait longer before claiming. I believe California has no such rule, so the IRS rule is the only one that matters, and the IRS allows 60 days from the date you file the claim.

There could be any number of reasons for waiting. Besides consulting advisors and getting suitable legal entities in place they could be working hard at making themselves as invisible a possible. That takes a while for most people.

"so the IRS rule is the only one that matters, and the IRS allows 60 days from the date you file the claim."

Allows 60 days for what exactly?  I'm trying to understand this...

"Understand... people are more complicated than the masks they wear in society... everyone is playing to win, and some people will use moral justifications to advance their side"

                                                                                                                                                          Robert Greene

    sully16's avatar - sharan
    Ringleader
    Michigan
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    Posted: April 24, 2016, 7:34 pm - IP Logged

    At first I thought the recent winners of the California 1/3 Powerball Billion Dollar Jackpot were laying low.

    But now I'm thinking the ticket may be lost.

    Only time will tell

    Any ideas?

    Not worrying about it, doesn't really matter.

    Did you exchange a walk on part in the war ?

    For a lead role in a cage?

     

                                                From Pink Floyd's " Wish you were here"

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      NY
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      Posted: April 24, 2016, 7:43 pm - IP Logged

      "so the IRS rule is the only one that matters, and the IRS allows 60 days from the date you file the claim."

      Allows 60 days for what exactly?  I'm trying to understand this...

      The IRS allows you 60 days from the date you file the claim to choose between the cash value and the annuity. Most states will let you file the claim anytime before the ticket becomes worthless and then follow the IRS rules allowing  60 days to decide  between cash and annuity. Technically, the state may still allow you to choose the annuity even if you wait longer, but after 60 days the IRS taxes the winnings as a lump sum, thus requiring that taxes on the full amount be paid in that tax year.

      In Florida (and possibly some other states) the annuity is the default option and you have to select cash within the state's time limit if you want the lump sum. Florida only gives you 60 days from the date of the drawing, so you can choose cash by filing your claim within 60 days, but if you wait until the 61st day Florida will only allow the annuity.

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        Portland, OR
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        Posted: April 24, 2016, 8:34 pm - IP Logged

        The IRS allows you 60 days from the date you file the claim to choose between the cash value and the annuity. Most states will let you file the claim anytime before the ticket becomes worthless and then follow the IRS rules allowing  60 days to decide  between cash and annuity. Technically, the state may still allow you to choose the annuity even if you wait longer, but after 60 days the IRS taxes the winnings as a lump sum, thus requiring that taxes on the full amount be paid in that tax year.

        In Florida (and possibly some other states) the annuity is the default option and you have to select cash within the state's time limit if you want the lump sum. Florida only gives you 60 days from the date of the drawing, so you can choose cash by filing your claim within 60 days, but if you wait until the 61st day Florida will only allow the annuity.

        Interesting.  Thanks for that KY.

        "Understand... people are more complicated than the masks they wear in society... everyone is playing to win, and some people will use moral justifications to advance their side"

                                                                                                                                                                  Robert Greene

          music*'s avatar - nw bookeep.jpg
          Happy California
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          Posted: April 25, 2016, 11:40 am - IP Logged

          Not worrying about it, doesn't really matter.

          sully16, "Worrying about it" is my second hobby. LOL

           Has Michigan been slammed from the past weather storms?  What kind of strange Spring weather some of the U.S. has endured.

          Good Luck to all LP members on MM & PB!! this week.

           I've been rich and I've been poor. Believe me, rich is better. 

           Attributed to Joe E. Lewis and others

            Saylorgirl's avatar - Lottery-065.jpg
            Indiana
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            Posted: April 25, 2016, 12:08 pm - IP Logged

            Not worrying about it, doesn't really matter.

            I agree with this!  Not my ticket not my problem. 

              music*'s avatar - nw bookeep.jpg
              Happy California
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              Posted: April 25, 2016, 12:17 pm - IP Logged

              I agree with this!  Not my ticket not my problem. 

               This winning ticket claim delay gives us practice in delaying your own ticket verification. Very few questions will be asked about you. Just keep quiet and control those family and friends who think they know. Would a noble lie be appropriate here?   You say, "NO" and they will learn the truth a little bit later. Will your good friends and family understand why you lied?

               Approve

               I've been rich and I've been poor. Believe me, rich is better. 

               Attributed to Joe E. Lewis and others

                Saylorgirl's avatar - Lottery-065.jpg
                Indiana
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                Posted: April 25, 2016, 3:10 pm - IP Logged

                 This winning ticket claim delay gives us practice in delaying your own ticket verification. Very few questions will be asked about you. Just keep quiet and control those family and friends who think they know. Would a noble lie be appropriate here?   You say, "NO" and they will learn the truth a little bit later. Will your good friends and family understand why you lied?

                 Approve

                Again, I wouldn't be worried even if it was my ticket and I don't think I need to "practice" in delaying verification.  Why, would friends and family even ask if I won the lottery.  That doesn't usually come up in normal conversation, how was your weekend?  Did you win the lottery?.  I don't anticipate being asked nor do I anticipate that I need to lie.

                  music*'s avatar - nw bookeep.jpg
                  Happy California
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                  Posted: April 25, 2016, 3:57 pm - IP Logged

                  Again, I wouldn't be worried even if it was my ticket and I don't think I need to "practice" in delaying verification.  Why, would friends and family even ask if I won the lottery.  That doesn't usually come up in normal conversation, how was your weekend?  Did you win the lottery?.  I don't anticipate being asked nor do I anticipate that I need to lie.

                  Saylorgirl, I think it becomes different when the jackpot is at a record-breaking amount. Everybody is talking about it for three days or more. Before, on, and after the special day.

                   You do not have to lie but tell them that you won a smaller amount. Your best friends and family will understand why afterwards.

                   This tactic is good for the press. Anonymity is best. Try not helping the criminals who will be watching you. Your entire life will change.

                   I've been rich and I've been poor. Believe me, rich is better. 

                   Attributed to Joe E. Lewis and others

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                    LA Ca.
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                    Posted: April 26, 2016, 11:51 pm - IP Logged

                    Given the amount of publicity the store received when the win was announced it would be dang near impossible to forget, ignore or not know that you bought a ticket at that store....

                      Theox-'s avatar - DAylUYw

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                      Posted: April 27, 2016, 12:42 am - IP Logged

                      I couldn't wait that long. I'd be afraid that something bad would happen to me or the ticket. I'd only be able to wait a maximum of two weeks before claiming the prize.

                        lejardin's avatar - Lottery-014.jpg

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                        Posted: April 27, 2016, 3:59 pm - IP Logged

                        I couldn't wait that long. I'd be afraid that something bad would happen to me or the ticket. I'd only be able to wait a maximum of two weeks before claiming the prize.

                        Lol I agree, there is only so long I could wait also.  Would hate to think something could happen to me or the ticket.  I could wait a couple weeks knowing it takes that long for the funds to hit your account but during that time, searching for the "team" to be put together.

                        Beginning to think that third ticket may be lost also.  This seems an awful long time for someone to wait, unless of course they are already financially set.

                          Think's avatar - lightbulb
                          Marquette, MI
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                          Posted: April 27, 2016, 8:57 pm - IP Logged

                          The ticket was purchased by a mysterious out-of-state visitor from Tipton, OK  WinkWink

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                            Posted: April 28, 2016, 12:26 am - IP Logged

                            At first I thought the recent winners of the California 1/3 Powerball Billion Dollar Jackpot were laying low.

                            But now I'm thinking the ticket may be lost.

                            Only time will tell

                            Any ideas?

                            Might have been purchased by a person that has a nice income already and they are just taking a lot of time in putting together a financial adviser tax lawyer and some sort trust fund for family members etc. They also may be hoping that another really big prize amount happens real soon so that it may help take the focus on them. A lot of possible reasons including it might have been overlooked or lost. I hope i do not read in the future where someone misplaced it and found it but the deadline for claiming it had just expired.

                              dr65's avatar - black panther.jpg
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                              Posted: April 28, 2016, 1:34 am - IP Logged

                              That was a tremendous JP. I'd imagine people bought more tickets than most

                              usually do. If it was a new to the game player going with the flow, did they buy a

                              few and check them against the right set of numbers? Did someone put them in a

                              lucky place before the draw then after forget where? Did someone do away with the

                              winner and is now trying to determine when to fake it's theirs? Was it left behind at the 

                              store and discarded? There are so many what ifs here. The reason for the questions is

                              that you want to see a player get their due. It would be a shame to see it go back to the 

                              states. Maybe they should view video tape.

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