Powerball Jackpot Winner Will Get a Hefty Tax Bill

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Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

To claim a winning ticket with a value larger than $600, you must present proof of your Social Security number or Federal Tax ID number and a photo ID to prove

lottery advertisement Use the Powerball calculator to see how much money you would receive after winning a Powerball jackpot

lottery calculator usa Lottery winnings also count as income, so by winning the jackpot, the ticketholder has been pushed into the 37% tax bracket for those with