I recently took my tax documents in because i wanted to see how much i'd get back if i filed. I was told that i wouldn't be getting anything back because i had lottery winnings which contributed to that. OK, i called the Michigan Lottery Main Branch in Lansing to ask about that and they told me that if i had winnings that were $5,000 and less, it wouldn't be taxed. They said that if it's $5,001 and up, then taxes are taken out right then and there. But when i told a tax advisor this, i was told that i should've asked them to take out taxes then. Who do i listen to regarding this? If i ask to get taxes taken out then so it never affects me later and i get told no because that is their "policy", then what am i to do? Should i go ahead and file my lottery winnings with everything else and take it or hold them back, file everything else, and just take the $? I'm kinda caught in a bind because i really need this $! What should I really do? Need an EXPERIENCED tax advisor! HELP! HELP! HELP!
2007-02-02
04:11:12
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6 answers
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asked by
Nate
5
in
United States