Lottery-winning couple 'defrauded' by tax business

Comment #24

One-Day — Sun, 11 Sep 2016 18:50:19 GMT

THAT'S what Mark Cuban says. Lots of eagles smarter than you are out there in suit and tie waiting to wipe you, the smartest of the smartest, clean of your money. Unless you are a Wallstreet hawk, it is silly to choose the lump sum. Paraphrasing what he said in some show. Lottery money managing/handling is not as easy task as many on this forum make it seem. Reality is different.

Comment #23

LottoAce — Sun, 11 Sep 2016 15:32:44 GMT

no kidding

Comment #22

dallascowboyfan — Fri, 09 Sep 2016 16:15:47 GMT

Truth....

Comment #21

Bleudog101 — Fri, 09 Sep 2016 13:07:17 GMT

Video said $1 million pre-tax.

Comment #20

Drenick1 — Fri, 09 Sep 2016 12:43:23 GMT

They are lucky they even got paid. I wouldn't risk buying any lottery tickets from Illinois.

Comment #19

Nikkicute — Fri, 09 Sep 2016 02:03:36 GMT

Any tax preparation service that has the word EXPRESS in it's name: Run

Comment #18

belle$star3! — Thu, 08 Sep 2016 03:31:32 GMT

I also say Congrats on the win!

It is terrible that this couple was treated so unfairly

Comment #17

HaveABall — Wed, 07 Sep 2016 21:50:33 GMT

I wonder how much this couple won from the Illinois Lottery's scratch off game

Comment #16

helpmewin — Wed, 07 Sep 2016 16:50:43 GMT

Well that's not good maybe they can write it off as a loss.

Comment #15

American Indian — Wed, 07 Sep 2016 08:12:55 GMT

I feel the same way, when I did Taxes it was almost 30 yrs ago started when I was still a Teenage and continued though College and after that was before the Lotto even started, like you say every year had to take a class and be updated on new Laws and Reg.'s before doing Taxes I can't even imagine what it's like now to do them..

I did know the loopholes and other Honest ways to help Client's not have to claim certain things that other so CALLED CPA'S would try to make you pay on. I had a frie... [ More ]

Comment #14

sanman$ — Wed, 07 Sep 2016 05:57:15 GMT

The tax preparer like he Godfather tells the lottery winner: 'I'll make you an offer you can't refuse

Comment #13

dr65 — Wed, 07 Sep 2016 03:51:09 GMT

On their receipt it was written behind w2g - gambling bonus...the commissioner interviewed said there is no

such thing as a gambling bonus. I think most anyone looking at and listening to what the preparer was telling them

and writing on their receipt would have questioned why it was written as gambling bonus.

The man seems to be hispanic with an accent and sorry to say, some people like that are viewed as easily taken

advantage of by crooks like this tax service. The language barri... [ More ]

Comment #12

gy65 — Wed, 07 Sep 2016 03:34:41 GMT

Only requires a little initiative to make ballpark calculations

Comment #11

LottoAce — Tue, 06 Sep 2016 22:41:58 GMT

There are plenty of people here who post things that demonstrate that they don't have a clue about even the simplest aspects of tax law.

you are correct.

I honestly am not a tax expert either. what I do know is that there are so many changes that occur from year to year,

it is hard to keep track of them all. I would'nt even try to file taxes in a situation like that untill I spoke to half a dozen reputible accountants that

are tied to major firms. the last thing I'm going to do... [ More ]

Comment #10

KY Floyd — Tue, 06 Sep 2016 19:43:24 GMT

We are up on all of the taxes and other pertinent lottery info.

We're clearly not reading the same posts. There are plenty of people here who post things that demonstrate that they don't have a clue about even the simplest aspects of tax law.

The story isn't entirely clear about all the details, but the video indicates that they were charged $1700 for filing a W2G form, which they wouldn't have needed if they hadn't won anything from gambling. Plenty of preparers use the same basic method... [ More ]

Comment #9

Groppo — Tue, 06 Sep 2016 19:14:32 GMT

.

No, Doggonit!, and it's exactly the problem with this hateful, crumbling planet of ours.

Groppo

Comment #8

Groppo — Tue, 06 Sep 2016 19:11:05 GMT

.

Yes, Mr./Ms. Reggie Numbers,

I couldn't have said it better myself.

Mr. Groppo

Comment #7

TheMeatman2005 — Tue, 06 Sep 2016 18:34:29 GMT

Not everyone is as savvy as the members of Lottery Post.

We are up on all of the taxes and other pertinent lottery info.

Most casual players don't know what we know. Too bad.

Comment #6

music* — Tue, 06 Sep 2016 17:04:27 GMT

Winners should go to www.USAMEGA.com and get a ball park figure for how much they still owe. They will understand the 25% automatically taken out before they get a winner's check. Then all they need is to find a good CPA, Accountant, or Enrolled agent and do the math for the 14.6% they still owe.

When you are penny wise but pound foolish you will pay.

Winners can find www.lotterypost.com too.

This is a good case of Illinois tax payers getting their money's worth from the civil servan... [ More ]

Comment #5

Reggie Numbers — Tue, 06 Sep 2016 16:59:43 GMT

Smh...It's sad that the harder it takes to make your money. You have those working just as hard to swindle you out of it.

Comment #4

TheMeatman2005 — Tue, 06 Sep 2016 16:53:28 GMT

First, congrats on the win.

Second, shame on the tax preparer that took advantage of his couple. I hope they get what's coming to them. And it won't be a bonus

Comment #3

Bleudog101 — Tue, 06 Sep 2016 16:18:59 GMT

that is terrible. Glad that flea bitten company getting publicity...bad publicity. It would be so karma like if the IRS would do the right thing and investigate/audit that company.

Comment #2

dr65 — Tue, 06 Sep 2016 15:58:05 GMT

Lottery bonus? They had to pay? I guess if they were told they were getting $92,000 back,

that seemed like peanuts to pay. I don't blame them, I blame the scavenger who sat across

from them telling them those lies.

Comment #1

Raven62 — Tue, 06 Sep 2016 15:51:55 GMT

You can't always find an Honest Professional

Lottery-winning couple 'defrauded' by tax business

Lottery Post — Tue, 06 Sep 2016 15:44:20 GMT

Includes video report

A husband and wife who won big off a 2014 Illinois Lottery scratch-off say they don't want what happened to them to happen to anyone else.

Rafael Borsas says he and his wife, who make less than $80,000 a year, went to a nearby Key Express Tax service to have their taxes prepared for them. Instead of being charged $160 for a 1040 single family house owners service, they were overcharged nearly $2,000: $300 for income tax and $1,700 for a gambling bonus.

The commissi... [ More ]