Uncle Sam is the True Lottery Winner
By Amy K. Frantz
Did you buy a lottery ticket when the Powerball jackpot recently reached $1.6 billion? Even though the odds of winning were 1 in 292 million, many people purchased a ticket or two (or several hundred!) and dreamed about what they would do with all that money if they won. However, the one thing that every Powerball winner would do with some of the money is pay their federal and state tax liability.