Search

Cant you just give cash to avoid the gift taxes on the receipients??Reply
The way the bank watches you is another issue aside from the IRS. The banks don't want to get cited for internal compliance shortcomings. They probably have enough dirty business of their own to cover up without having to worry about their clients. Some banks start an investigation on their own, and report to the IRS if they start seeing strange (for your account) deposits or withdrawals. If you don't typically have $50,000,000 in the bank and make regular large withdrawals and you suddenly w
May 30, 2013, 11:20 am - dager - Lottery Discussion Forum

wordsReply
Alabama 207 restrain not found auditor 646 046 audit 343 330 6161
Mar 7, 2013, 2:13 pm - AGF310 - Mystical Forum

if you hit the pic 4Reply
So how will they cut it up to get their share? Hacksaw, band saw, bolt cutters? And do they write you a check which will cost 45c to mail? Because it will have to be documented. And don't forget to get a receipt. And save it for 3 years in case they audit you.
Oct 21, 2012, 9:35 pm - grwurston - Lottery Discussion Forum

if you hit the pic 4Reply
Some states audit you when you claim a lottery prize, to see if you are a deadbeat parent, or owe money to the state. Owing money to the federal government with student loans, you might be able to sneak under the radar. But why chance it? Just pay your student loan.
Oct 14, 2012, 6:49 pm - mcginnin56 - Lottery Discussion Forum

Proposed Buffett Rule and How It Would Apply to Some Lottery Winners Who InvestReply
The Federal Reserve has still injected trillions into the economy and manipulated interest rates under Obama (although not necessarilly because of him). They've been doing so for a long, long time. That's not really a Republican vs. Democrat issue, that's mostly an executive power problem, and a misunderstanding of economic principles. There's little correlation between party and support, or resistance to, a Federal Reserve audit. Both Democrats and Republicans are for and against transparency o
Feb 15, 2012, 8:18 pm - Boney526 - Lottery Discussion Forum

Buying every combination for Powerball...Is it legal?Reply
You are correct, I wasn't factoring in the write off of the $350 Million. I actually make it a point now to get a register receipt for all my ticket's, particularly for pick 4's which I spend a lot on, in the event of an IRS audit. Just keeping the losing tickets alone is not enough proof to the IRS.
Feb 13, 2012, 12:22 am - mcginnin56 - Lottery Discussion Forum

Workplace Lottery Pool Contract...Reply
Just as important as a good contract is your correspondence with all players and potential players. Try to get everything in writing which is very hard with an office pool. I work in a home office now and find running a office pool now is much easier because all correspondence has to be by email. Now I have an audit trail of every conversation. Before, when I worked in a regular office, there would be a lot of casual conversations about the office pool. Some people would indicate they want
Feb 9, 2012, 1:08 pm - Mario38 - Jackpot Games Forum

Embattled Arkansas Lottery controller resignsReply
So the State of Arkansas was paying for the training to get him BACK up to CPA status... they hired him w/o certification? and his skills had slipped so far as to render him unable to either #1 remember GAAP (sheesh, I'm not a CPA and I know what GAAP standards are for a public set of financial reports.) OR #2 remember how to use the yellow pages/google search for CPA AUDIT FIRM or some such search term? OR #3 remember how to hit the intercom button (do they still have intercom buttons?) to tell
Jul 30, 2011, 10:54 pm - Fondant - Lottery News

Do you keep your non-winning tickets?Reply
That is the way it is suppose to be. If we are spending money on the lottery and we don't win BY LAW we are suppose to be able to write that off against any WINNINGS we have that year. I have not HAD to do that yet as all my over $600 wins have been on multiple tickets (hit $1500 but on 6 $250 tickets). But I keep ALL my losing tickets as the law says I CAN write them off. And in case of an audit, all the stores I bought from are on the way to work or close to home. At the start of the year
Jul 4, 2011, 12:55 pm - kapla - Lottery Discussion Forum

Ark. Lottery panel votes for changes to unclaimed prize moneyNews Story
The legislative Lottery Oversight Committee voted today to recommend a fix for a 2010 law change that Arkansas lottery officials say hampers their ability to maximize ticket sales. During last year's fiscal session, the Legislature changed the state lottery law to add unclaimed prize money to net profits. Lottery Director Ernie Passailaigue said after the session that the change meant the lottery could not use some of the unclaimed money on efforts to boost prizes and sales in response to
Feb 16, 2011, 10:50 pm - Todd - Lottery News