Income Tax Folio S3-F9-C1, Lottery Winnings, Miscellaneous

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what is cooler in poker File Form W-2G, Certain Gambling Winnings, to report gambling winnings and any federal income tax withheld on those winnings The requirements for reporting and Besides the time-value-of-money discount rate, a lump-sum payout also results in federal tax of 37% on every dollar over $539,900