Powerball jackpot hits $258 million. Here’s the tax bite for the winner

Powerball jackpot hits $258 million. Here’s the tax bite for the winner

Do you have your eyes on that $258 million Powerball jackpot? So does Uncle Sam.
If you’re lucky enough to win the top prize in Wednesday night’s drawing, remember that the IRS gets an up-front piece of big lottery wins. And that tax withholding wouldn’t be the end of it.
“There is still a sizable tax bill coming, for sure,” said April Walker, lead manager for tax practice and ethics at the…

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