Do we have to pay taxes on winning money from a lottery? If

Do I Have to Pay Taxes on Game Show Winnings and Prizes? The short answer: yes, even if it's not in cash Here's more on how taxes work for

The Internal Revenue Service requires you to pay taxes on any lottery winnings that exceed $5,000 You may also be subject to state taxes,

do you have to be a us citizen to win the lottery Lottery prizes get taxed under the same rules as regular income tax Whatever prize money you receive during the year is added to your taxable

docp030 It's very important to pay the necessary taxes on lottery or prize money winnings in order to prevent fines and other legal repercussions Such