Form W-2G: Certain Gambling Winnings is a tax form used by taxpayers to report ... winnings amount to $5,000 or more and result from a lottery, wagering pool, or sweepstakes.

“I hit $500,000 on a $10 scratch-off two years ago and wasn’t aware that if you win the lottery, they tax you right then and there. So I was taxed … $150,000 right off the rip. And then, once tax time ...

But since we’re talking about a massive Powerball jackpot, the state’s higher 8% withholding tax rate applies to a lottery prize greater than $500,000. Winners receive a Form W2-G at the end ...

Prior to 1999, the lottery credit automatically appeared on tax bills because it was given ... Since then, homeowners have been required to fill out a form to verify that their property is their ...