Tax
Aug. 30, 2001
IRS Can't Hit Estate With Big Lottery Tax
SAN FRANCISCO - A retired Air Force veteran's jackpot of $508,000 in annual California lotto payments turned into a tax nightmare for his family in 1990 when the Internal Revenue Service demanded full payment of $2 million in estate taxes upon his death and threatened to take the home of the heirs.
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In