Winnings

News & Analysis as of

Tax Brackets: Revisiting the Tax on Gambling Winnings just in Time for the NCAA Tourney

March Madness is upon us and, at least until Thursday, all brackets have yet to be busted. When completing your bracket for your office pool or a pick ‘em group with friends, keep in mind the tax consequences if you hope to...more

You won the lottery, now what?

With up to $1.4 Billion at stake in Wednesday’s Powerball, those who play the lottery are busy making plans for what to do with all the money they may win. If you win it, you won’t ever have to worry about money again –...more

Cole Schotz Successfully Defends Against Motion to Dismiss New Jersey State Lottery Claims

The Presiding Judge of the New Jersey Tax Court held in our favor last week, ruling that our clients can proceed with their claims against the State of New Jersey, Division of Lottery challenging the retroactive taxation of...more

How did Director Cordray fare on Jeopardy!?

CFPB Director Richard Cordray did not come close to matching his success in 1987 when he returned last night to Jeopardy! Mr. Cordray participated in the show’s “Battle of the Decades,” which brought back former champions to...more

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