Have you hugged your tax lawyer today?
The next Powerball drawing is worth an estimated $1.4 billion (it may be even higher by the time you read this), and the odds are good that there will be a winner this time.
If there’s only one, we will have a new member of the billionaire club. Right? Wrong, because your friendly tax collectors are silent partners in the deal. Here’s the story on all the tax hits on a huge payout.
Taxes on a $1.4 billion Powerball jackpot could be $400 million – MarketWatch