How will the government charge me taxes for a $1000 CAlottery scratcher if I do not work and don't file taxes?
I do not file taxes but bought a scratcher and have received a $1000 check from the lottery, with no deductions. How or when will I pay the taxes for it.
2008-11-10T08:55:11Z
Do people even read the question or are they too engulfed in trying to answer it to focus of the details. I mentioned that THAT I HAVE ALREADY RECEIVED THE CHECK! What I want to know is if they will bill me later for the taxes or what? since I do not file taxes because I do not work!
Anonymous2008-11-11T19:28:25Z
Favorite Answer
nononsense,
I read your question.
If you have only $1000 to report as income, you do not have to file a tax return for Federal.or California.
If your income is still low enough after receiving the check, you will not need to pay anything on it.
Basically, it becomes part of your income for the year, and is part of the calculations as to how much if anything you need to pay. If you don't work, $1000 probably isn't going to push you into a payable situation.
Incidentally, there is a lower limit below which the lottery corporation won't withhold taxes, and $1000 appears to be below that. If you had a larger win, they would have withheld a certain percentage against your year end tax debt.
I actual have a million candy bar and 10 friends... each and each individual gets a million/10 top? How plenty is would one individual pay for that candy? i exploit my magic candy bar making device to make 9 extra candy bars. each and each individual can now get a million bar each and each. would those people nonetheless pay a similar quantity as before? No. To anwser your question, the extra of a few ingredient you have, consequently funds, the fewer the value of it. The dollar use to be the choicest monitary unit interior the international. Now it falls at the back of the euro. in the event that they print all that extra funds, then they'd desire to up the minumum salary and expenditures on each thing.
Usually, this type of money is still earnings. If your income is still low enough, you won't have to pay any taxes. But they will ask for ID when you pick up your winnings. They don't just give you cash, it's a check, and the lottery needs to show who the money went to. Otherwise, they have no way to show where the money went or that it was dispersed properly.