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Posts Tagged ‘Sweepstakes Taxes’


Steps for paying taxes on prize wins

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[kkstarratings]One may have confused about paying taxes on prize wins, but yes, it is true that you need to pay for your net income, whether it is from the prize. Winning a reward from a lottery, quiz show or some other event can be a withdrawing experience, but it is significant not to expend the […]

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Knowing How To Pay Your Sweepstakes Taxes

[kkstarratings]Congratulations, you’ve won the sweepstakes. Please be sure to pay your taxes on your winning’s as shown on line 12 of the form enclosed. Have you ever received a notification like this? I hope not, it could be fraudulent. Many scams are out there and take advantage of people that don’t know when or how […]

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Do You Pay Taxes On Sweepstakes Winnings

It may seem a little harsh when you win that free holiday that the IRS Taxes comes knocking on your door asking you to pay tax on it. Well, unfortunately one of the hidden costs of doing sweepstakes is that you must pay taxes on sweepstakes winnings. So if you don’t want to have IRS […]

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What If I win a car, do I have to pay the Taxes?

Do you have to pay taxes on a winning prize? Making money through sweepstakes is not just restricted to a few fast bucks alone. Sometimes it could be big jackpots too. Even though it is quite rare but it is something that can really happen to you too one day or the other. You could […]

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Do you have to pay Sweepstakes Taxes in the US?

About sweepstakes taxes and according to the US law, prize money won in any form should be reported along with your income to the tax authorities by the end of the year when you file your tax accounts without fail. It enables them to keep proper track of where and all the money goes, especially […]

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