Question:

Income tax question - game show prizes?

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A low income person (probably doesn't make much more than minimum wage) goes on a game show and wins a car worth $40,000.

He can't afford the income tax on the car, and has no means to borrow the money.

Would the IRS allow this person to spread the payments over a few years, or would this person be forced to give up the car?

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1 ANSWERS


  1. If a person is on welfare, or scholarship status in collage, would tgey loose their benefits?

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