Tax Resolution Attorney John P. Willis Writes About The Tax Obligations Facing Winners Of The Recent Mega-Million Lottery Drawing.
Tax resolution attorney John Willis, CEO, and founder of IRSALLSTAR, encourages winners of the Mega-Million Lottery drawing to seek reputable tax and financial professionals.
Fairhope, AL, August ** 2022: Tax Attorney John Willis, CEO and founder of IRSALLSTAR.com, recently published a blog on his website entitled “Someone Just Turned $2 Into A Billion Dollars,” in which Mr. Willis acknowledges the excitement, tax obligations and “money-grabbing” professionals winners experience.
Willis states, “It’s a nice way to make an easy billion, but, he adds, “Lady Luck must be on your side – big time!” He continues, “By now, most people know that’s what happened in the recent Mega-Million lottery drawing. According to the lottery officials, the winning numbers match a single ticket in Illinois. The officials also say the winner has yet to come forward. For the winner’s sake, if they even know they won,” Willis emphasizes, “I do hope they are putting together a team of professionals to help them negotiate a successful new life as a multi-millionaire.”
According to Willis, “Many lottery winners don’t think about the tax consequences, but the fact is that Uncle Sam is always the biggest winner when someone wins the big jackpots. In this instance,” he says, “the federal tax payment could be as little as $288.7 million or as much as $495.8 million depending on how the winner takes payment.”
Willis points out, “Even smaller winnings are taxed as income. So, the other 26 tickets that won second-tier prizes wroth either $1 or $2 million will have to turn over a big chunk of their winnings to the IRS as well.”
The entire blog can be read at: LINK HERE
ABOUT JOHN WILLIS
Mr. Willis believes strongly in supporting and representing the “underdog” and has devoted his entire professional life to protecting and defending those who need it most. As an attorney, Mr. Willis takes his role as “counselor” seriously. His knowledge, creativity and persistence are valuable assets that provide substantial benefits to his clients. He has represented individuals and businesses across the Gulf Coast for over 23 years and, he brings together an abundance of skills and experience that can be of assistance to almost anyone.
ABOUT THE IRSALLSTAR TEAM
The IRSALLSTAR team has developed a winning formula to ensure that each client’s individual needs are specifically met. Upon becoming a client of Mr. Willis’ law firm, that client’s immediate needs are assessed, and long-term goals are defined. Experienced professionals on the IRSALLSTAR team then assist each client in developing and implementing a custom-tailored game plan to provide both short-term and long-term relief from his or her serious tax problems. All firm clients are continually coached toward successful tax resolution and final victory over their challenges with the IRS and state taxing authorities. The entire blog can be found at http://irsallstar.com/blog/irs-tax-controversy-even-death-cant-stop-the-irs.php
To learn more about Mr. Willis and his law firm please visit http://irsallstar.com or call toll-free 877-254-4254.