At least somebody’s going to have a good tax season: Van Nuys, Calif., preparer Gene Taylor has won $1 million in his state lottery, according to published reports.
Taylor, listed in the PTIN Directory as proprietor of Gene A Taylor Tax Services, told media outlets that he picked up a $10 lottery ticket on the way to drop off his dry cleaning. The ticket reportedly won $15, so he kicked in an additional $5 and bought two more tickets. One of the two produced the $1 million prize.
Taylor’s prize is subject to federal taxes calculated at a 25 percent rate, reports added, but California Lottery pays the tax bill on winnings in this special game.
Reports also added a fact unlikely to endear Taylor to long-time lottery losers: He just recently won $11,000 on two tickets. He told news outlets that he plans to replace his vehicle, buy his sister a new car possibly move to a new neighborhood -- and definitely keep playing the lottery.
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