0
You pay federal taxes to the Internal Revenue Service (IRS).
You pay state and local taxes to the state or local tax department.
You would enter prizes on your year-end tax return just like you would enter wages (except on a different line) and then calculate the tax due and pay any balance due.
Still curious? Ask our experts.
Chat with our AI personalities
RafaThere's no fun in playing it safe. Why not try something a little unhinged?
Chat with Rafa
LaoThe path is yours to walk; I am only here to hold up a mirror.
Chat with Lao
ProfessorI will give you the most educated answer.
Chat with ProfessorAdd your answer:
Earn +20 ptsQ: Who do you pay taxes on prize money to?
Write your answer...
Submit
Still have questions?
Trending Questions
What is nature of gymnastics?
How can I create an eye-catching bicycle logo design that effectively represents my brand?
What are the benefits of using Assos Chamois Cream for cyclists?
What are some common issues that can be fixed with bicycle patches?
Why should you learn about Jesse Owens?
What are the advantages of using a flat bike lock compared to traditional round bike locks?
What are the key features and benefits of the Shimano SIS rear derailleur for cycling enthusiasts?
Did lance armstrong win the 2001 tour france bicycle race?
Is a badminton raquet bigger than a tennis raquet?
Can you play golf on gta4?
Is an eastern bike a good bike?
Why does my bike seat keep sliding down and how can I prevent it from happening?
What techniques make a good pole vault jump?
How many children does Evonne Goologong have?
Who makes sgm bicycles?
Why is my bike's derailleur skipping gears and how can I fix it?
What are the key features of the Peugeot Monaco bike?
What are the best features to consider when choosing a bike handlebar light?
What sports did Usain Bolt do when he was a child?
What safety precautions should I take when downhill mountain bike riding?
Copyright ©2025 Infospace Holdings LLC, A System1 Company. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Answers.