Publishers Clearing House Winners – Claiming PCH Prizes in Claim Lump Sums or Payments. If you are the lucky winner of a Publishers Clearing House prize, congratulations. You must be very excited. Have you decided what you will do with the money you have won? Whether you have a specific idea in mind or you have a vague idea of just enjoying your newfound money, you must also realize that you have to be somewhat concerned with taxes. The more you win, the more you be responsible for paying to the IRS. You do have options. You might want to consult with your own accountant first. They can let you know if it is better to forgo a lump sum payout in favor of installment payments. Any prize winnings must be reported to the IRS Taxes, although generally if you win $600 or less you do not have to worry about paying anything on those winnings. You must, however, report it as having been prize winnings. More Details below about taxes and PCH Lump Sum Payment. Lets go first with How to claim a PCH Winning Prize? (PCH claiming process)Read More...
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