If a foreigner wins a prize such as a car, is tax withheld on the 1099 like the 30% on a W-2G?
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If a foreigner wins a prize such as a car, is tax withheld on the 1099 like the 30% on a W-2G?
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.
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