XBOX Binge Watch and Play Sweepstakes Winner? Need Confirmation on if this is legit!

You have to pay tax when you win a prize???

 

I think you just gotta report you won something over $600

 

In the US you have to pay taxes on any gifts or prizes that total $500 or more in a year. This prize by itself is way over that.

 

Did they up the limit to $600? Last I knew it was $500. Hard to believe the government would do anything to let you actual keep some of your money.

 

So if you win a item worth $2000, no cash involved, you then have to pay tax on that item at the end of the year??

At just 10% that would mean you owed $200 on something you won, where is that cash supposed to come from when you only won a prize??

I could understand if you won cash and they take a percentage, but if you won something really expensive you could end up having to sell it just to pay the tax on it.

 

That's right. That's why on "The Price is Right" you always had the option to take the cash value instead of the prizes you won. A lot people winning a $30,000 car or even a $3,000 trip couldn't afford to pay the taxes so they can take the cash value instead
and pay the taxes out of that.

 

ePrize Fulfillment Services

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Dear Adam ,

Congratulations on your recent win in the Xbox Binge, Watch, and Play Sweepstakes!

We have received your documentation and your eligibility has been approved. No additional action is required from you at this time. You will either be contacted or receive your prize within the guidelines outlined within the official rules.

Should you have any additional questions, please reply directly to this email.

Sincerely,

ePrize Fulfillment Services

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Yep, I got my confirmation as well for my 1st place win... Only thing left now is to wait to see when the prizes will actually start shipping, as it sucks not knowing when to keep on the lookout for my prize sine its worth a pretty decent amount lol... I
might contact them and see if they can give me any additional information, or even send a tracking number once it has shipped. Anyways, congrats to those who won, I know I am sure as hell excited, I bet you guys are too!

 

They said they would contact us but like you I would a tracking number so all that stuff wont magically vanish from my porch if I'm not home. I wonder the the game token downloads will be

 

^^Yes. When you file taxes at the end of the year anything over $599 has to be reported

 

Just thought I would post an update... They shipped my 1st place win out yesterday for delivery today, and its on the truck so I am just waiting for it to be dropped off now sometime today. Pretty excited

 

How did they contact you? Im still waiting for some kinda email or whatever to let me know the status