vvandeventer
Sep 30, 2016, 12:16 PM
If a foreigner wins a prize such as a car, is tax withheld on the 1099 like the 30% on a W-2G?
AtlantaTaxExpert
Sep 30, 2016, 12:20 PM
For a prize the value of a car, yes, taxes WILL be due on that car.
Since the car has no liquidity, you may be required to provide a payment equal to 30% of the value of the car before they will release the car to you.