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re: Lump sum? How is it issued?

Posted on 1/12/16 at 4:21 pm to
Posted by Booyow
Member since Mar 2010
4049 posts
Posted on 1/12/16 at 4:21 pm to
quote:

I thought federal was 39.6


It is, but they only withhold 25% from the distribution. The winner would be responsible for paying more in taxes than what is withheld.
Posted by Topwater Trout
Red Stick
Member since Oct 2010
67648 posts
Posted on 1/12/16 at 4:23 pm to
quote:

The winner would be responsible for paying more in taxes than what is withheld.


that is how you mess up by not having a cpa
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