What part of game show winnings are withheld for taxes?

November 8, 2006

Date:  Sat, 21 Oct 2006
From:  Jack

What part of game show winnings are withheld for federal income taxes?

Answer

Date:  Wed, 01 Nov 2006

Hello Jack,

As far as I can see, federal income tax withholding isn't required for game show winnings. That may be why Richard Hatch is sitting in a federal prison for failing to report and pay federal income taxes on his winnings from Survivor. Game show winnings of more than $600 are reported to the tax authorities on a Form 1099.

Good luck!


Mike Gray

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