this post was submitted on 29 Jul 2023
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Kinda has a stench of "the wealthy get taxed too much π’"
The IRS doesn't get that money. The IRS processes that money and prevents your lottery-ticket-buying-ass from hoarding it all, and redistributes some of that unnecessary wealth to the utilities and services were all invested in together as a society.
If only actual billionaires got taxed that much...
The poor smuck probably claimed the lottery as an individual. He should have opened a company and claimed the ticket so that he can expense out a lot of his taxable income
/s
I am 99% sure this is not how it will work in this specific scenario but does otherwise when itβs business as usual.