“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 ...

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.

federal income tax brackets, the Powerball lottery jackpot, and whether you’ll get a Form 1099-K from Venmo or PayPal. So, in case you missed some of these, here’s a look back and recap of ...