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4025 Automation Way #D1 (Map)
Fort Collins, CO 80525
Phone: 970-226-4686

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Powerball Winnings and Taxes

Posted on December 5, 2012 by Leasa Magnuson in Individual Tax

When the Powerball winnings got up to $580 million last week it made many of us including me think about what we would do if we won. The first thing I wondered was just how much goes to the IRS and State of Colorado.  And the answer naturally was depends.  If I take the lump […]

View Post Powerball, Taxes on Lottery Winnings

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Testimonials

Leasa Magnuson was there when we needed her.

An unexpected audit on our returns was triggered by an unfortunate investment loss. All of the horror stories we had heard about came to the top of our minds and the adrenaline started pumping. We had never been through an IRS audit and didn’t know what to expect. We gathered all of the information requested. Leasa reviewed what we had, suggested a few more items and then we dropped off the requested supporting documents to the IRS several days prior to the audit. Promptly at 9:00 a.m. on audit day Leasa was there to support me and answer the grueling questions I was sure would come from the investigator.

Before we had a chance to take the hot seats in the investigator’s office, we were told that they had reviewed our documentation and we were given a "no change" verdict – which means everything checked out. We were free to leave.

I am confident Leasa’s council, review, and organization of our documentation and giving the IRS advanced time to review the information led to the positive outcome.

We are very lucky to have her on our team and will continue to use Leasa in the future.

Anita & Mike Kelly

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4025 Automation Way #D1 (Map), Fort Collins, CO 80525 - Phone: 970-226-4686