2006-08-29 07:03:54 · 5 answers · asked by A.G. 1 in Entertainment & Music ➔ Polls & Surveys
Too much. Ideally- prizes are given away. You shouldn't pay for anything. I won a photo contest which was pretty cool until I found out they wanted money to ship the trophy to me. I did not contact them again. If they were being for real- they would have sent the trophy for free. Besides, with the amount they were asking for regarding shipping- I could have had my own trophy made.
Have a great day!!!
2006-08-29 07:08:52 · answer #1 · answered by Coo coo achoo 6 · 3⤊ 0⤋
I don't understand the question. It is subject to your regular income tax, and usually the IRS will withhold 20 percent of the value, if it is in excess of a certain amount, but I think the amount has to be over $600 to be reported, and several thousand to be subject to withholding.
Check the rules. The large prizes are paid out over a long time. Smaller prizes, they just ask for your social security number, and take care of the withholding. If you won the $70k, expect a check for about $56K
Addendum: I just looked at the Q & A s here. Those prizes they send in the email, usually they want about $6 for shipping, which is about the value of the prize and shipping. They are just trying to sell those items.
2006-08-29 14:13:37 · answer #2 · answered by Lewis Y 6 · 3⤊ 0⤋
I have never been lucky enough to have won anything on IWON - sorry can't help you!@
2006-08-29 14:07:18 · answer #3 · answered by nswblue 6 · 0⤊ 0⤋
I don't know. I never heard of that place before. Sorry.
2006-08-29 14:10:52 · answer #4 · answered by Anonymous · 0⤊ 1⤋
how else are they goin to get their money?
2006-08-29 14:06:52 · answer #5 · answered by livinlife 2 · 0⤊ 1⤋