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"Powerball Jackpot Soars to $572 Million, Drawing Anticipation for the Next Winner"

1 min read
Source: CNBC
"Powerball Jackpot Soars to $572 Million, Drawing Anticipation for the Next Winner"
Photo: CNBC
TL;DR

The Powerball jackpot has reached $572 million, but financial experts suggest waiting until 2024 to claim the grand prize due to potential tax law changes in 2026. Waiting allows winners to assemble a team of experts and plan for higher taxes, including a potential increase in the top federal income tax bracket from 37% to 39.6%. Additionally, the federal estate tax exemption is set to decrease in 2026, making it crucial for winners to consider estate planning.

Topics:businesspersonal-finance#estate-taxes#financial-planning#lottery#personal-finance#powerball#taxes
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  1. Powerball jackpot hits $572 million. Why it could pay to wait until 2024 to claim the grand prize  CNBC
  2. Powerball lottery jackpot nearing $600 million: When is the next drawing?  USA TODAY
  3. Powerball numbers for Monday, Dec. 18, 2023: No jackpot winner  Detroit Free Press
  4. Powerball rolls into the holidays with a $572 million jackpot  NC Education Lottery
  5. The Powerball jackpot has climbed to $572 million ahead of Wednesday’s drawing  CNN

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