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Professional lottery player wins tax disputeNews Story
Big winnings, tiny taxes Several times a week, Clarance W. Jones does something most people can only dream of: He cashes in bunches of winning lottery tickets. And even better, he has found a way to pay barely any taxes on the massive take. Over the past decade, the 73-year-old from Lynn has redeemed more than 10,000 tickets from the state lottery more than any other person worth a total of more than $18 million. He has also long fought efforts by the state to collect considerable ta
Nov 5, 2011, 9:45 am - Todd - Lottery News

Panel eyes less pay for next Ark. lottery chiefReply
too the nine member oversight committee who said , $ 141,603 is the maxiumun salary for this job by state law. You have already broken the law once for Mr Passailaigue salary almost doubled it. Now, that everyone know this you might get a person at a price half way between the two salary amount. No!!! the penalties and interest such not be waived for you either, paid your taxes like the rest of us. Since the nine member lottery commission is appointed by the governor, House Speaker and Senate Pr
Sep 21, 2011, 2:50 pm - cbr$ - Lottery News

Legislators grill Ark. lottery financial officerReply
this sound as if the financial reports are done quarterly meaning there should be 3 -4 signatures on them, the auditor , the financial officer, usally someone else here then the CEO. they each get a copy of the report all proofs and errors should have been corrected before it left them not at the IRS office .as far as Ernie Passailaigue neecing to be told about a IRS problem, that not a excuse he should have read his own copy before he signed. If the report is late there is a financial penalty i
Aug 26, 2011, 1:21 pm - cbr$ - Lottery News

Maryland Lottery Pick 4 drawing generates huge payoutReply
The tax will be reported for 2011, the winners will receive w2-Gs in the mail in a couple of weeks after claiming, hold on to it for next years taxes...................you can deduct gambling wagers 2011 up to the amount won on next year's tax return........................................save your losing tickets as receipts God forbid they audit you. TAX TIME!
Mar 2, 2011, 9:23 am - jarasan - Lottery News

Why doesn't the lottery allow you to keep big winners ?Reply
I think its for book keeping/Security/tax purposes/audit purposes. I notice the stores that sell big winners 600 will photocopy tickets and hang those up.
Feb 23, 2011, 3:32 pm - TheOtherOne - Instant ("Scratch-Off") Games Forum

Audit finds 'ticket cashers' remain problem for Mass LotteryReply
So are they going to audit all the people who lose thousands of dollars every year and give them back a complete refund or make gambling loses a complete TAX write off??????????????? Come on, let me hit a jackpot and find an honest(funny isnt it)person who will pay me a % of my ticket so UNCLE SLAM your pockets wont take their unneccesary share. I would not have no problem selling my tickets !!!!
Dec 23, 2010, 9:45 pm - Goalisamillion - Lottery News

Will you claim the lotteryReply
I buy my tickets in a state that allows anonymity so I wouldn't need a trust or anything like that. I have no need for a financial advisor as I've learned that they are just salespeople and I've already built up nice little nest egg by making my own investment decisions. I've also been audited by the IRS twice and my tax attorney has proven himself invaluable. Your almost guaranteed to be audited after a big lottery win. Hire a tax attorney after you win so you'll be prepared when they actua
Sep 1, 2010, 6:29 pm - iGlenn - Lottery Discussion Forum

Canadian gets 9 years for U.S. lottery scamReply
At least some aspects of the lottery are being scrutinized. I would like to see some independent computer software auditors given access to the inner machinations of the lotteries. Since lotteries are state entities I suppose it would have to be multiple independent state level audits. The reason I'm not hopeful this will happen anytime soon is because unless someone discovers evidence, statistical or otherwise, that something is awry in a state lottery enterprise somewhere, there will be no inc
Jul 19, 2010, 11:38 pm - jimmy4164 - Lottery News

QP's & FP's for NY Take 5Reply
HA! You and me both with not wanting to read through all the winners. I don't trust what NY Lottery Website puts out for information, we would need a 3rd party to audit them and that AN T happening!
Jul 8, 2010, 7:53 pm - bashley572 - Pick 5 Forum

I have suspected this about 4 years now: Lottery Audit and Racism & Disciplinarism: Coincidence?
You know guys i am starting to suspect something about the Lottery Audits Company the ones that tell the state what kind of lottery they should have.... This CAN not be coincidence....I think they create the matrix for a particular lotto game based on the racial composition of the state/country based on the either political situation or social CONDUCT of the state/country and based on the image that that state/country has... Dude states that have the throng sorry to say this...States that
Mar 6, 2010, 11:02 pm - pumpi76 - Lottery Discussion Forum