How Taxes on Lottery Winnings Work

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File this form to report gambling winnings and any federal income tax withheld on those winnings The requirements for reporting and

Committed to helping taxpayers understand and meet their tax obligations  Federal Tax on Lottery Winnings · Federal withholding rate for gambling income: 24% · Federal income tax brackets for 2022: If income is $10,275

how to collect lottery winnings The IRS automatically withholds 30% of net lottery winnings in the US The rate at which the net winnings are ultimately taxed though depends on Before you see a dollar of lottery winnings, the IRS will take 25% Up to an additional 13% could be withheld in state and local taxes,