Do you need to pay tax on lottery winnings?

what are taxes on lottery winnings
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While lottery winnings of $600 or less are not reported to the IRS, winnings in excess of $5,000 are subject to a 25 percent federal withholding

Section 194B of Income Tax Act Under Section 194B of the Income Tax Act, TDS will be deducted when the income is earned from the winning lotteries, card games,

what are slot cars While lottery winnings of $600 or less are not reported to the IRS, winnings in excess of $5,000 are subject to a 25 percent federal withholding

what do i do if i win the lottery For residents and resident aliens, percent in federal and state withholding taxes is deducted for every Lottery prize over $5,000 Current federal tax law