Taxes on Winnings If you live in the United States it is important to know that if you win sweepstakes prizes, you need to declare them on your taxes. The IRS will expect you to declare your sweepstakes taxes on your 1040 form, even non-monetary sweepstakes prizes...
The Difference: Sweeps, Lottos & Contests You’ve probably heard various terms for a ‘giveaway’ including sweepstakes, contest, and lottery. You might be inclined to think of those interchangeably, however there are distinct differences between them. On the surface...
The Largest US Sweepstakes Ever Won Publishers Clearing House Prize The largest sweepstakes ever won in the United States was the Publishers Clearing House sweepstakes, which awarded a $365 million prize in 2019. The prize was awarded as an annuity, which paid out...
The History of Sweepstakes Sweepstakes and contests have been around for a very long time. The term “sweepstakes” dates all the way back to the 15th century! The term was created in reference to a common game where everyone placed in a “stake” and the winner thus...
