When you win the lottery, the IRS takes a percentage of your winnings upfront—this is recognized as withholding tax. For bigger winnings, the standard withholding tax fee is 24%. However, in case your total winnings push you into a better income bracket, you may discover that the withholding is not sufficient to cowl your total tax legal responsibility. Given these complexities, it’s prudent to set aside further funds in your tax invoice or regulate your withholdings via your employer when you h...