A Wheel of Fortune Slots Player at Las Vegas wins $1.3M Jackpot
He won $1.3M on a Wheel of Fortune slots Jackpot last Saturday in Las Vegas.
According to the Strip casino, a man visiting Las Vegas for a birthday and bachelor party with his two brothers won the progressive jackpot only 30 minutes after sitting down at the wheel of fortune slots machine. The three brothers are canadian citizens. They won alot but as they have to pay Casino Taxes, the will return to Canada with a slightly smaller amount. This kind of winnings can also be got when betting online. Open a betting account now.
TurboTax, gambling winnings, unlike income taxes, are not progressive. That means it doesn’t matter if you win $10,000 or $1 million, the federal rate remains the same flat 24 percent in the US. That’s a one percent decrease from the previous 25 percent tax rate, which changed for the 2018 tax year. There are some services that can help you to get a greater share of your gambling winnings.
Casinos are required to withhold 24 percent for the Internal Revenue Service on winnings (IRS). For that reason, the Cosmopolitan kept $317,460.20 of the Wheel of Fortune slots jackpot for the IRS, and issued the player a check for $1,005,290.67. The one percent tax change for 2018 means the Canadian went home with an extra $13,227 than he would have, had he won in 2017.