January 2016
ABC Eyewitness News interviewed me on January 11th just prior to the recent Powerball lottery. To see the video, please click the link below. Or you can read my comments below.

Please click here for the full interview

If you're dreaming of winning the $1.4 billion Powerball jackpot, you aren't alone. Hundreds of thousands of people are snatching up tickets ahead of Wednesday's drawing.

The record-shattering jackpot has a cash value of $868.9 million, but how much money would you get if you win?

"The government definitely gets its money worth so to speak," said tax specialist Dennis Brager of Brager Tax Law Group.

"The tax man is definitely going to come out. First of all, you're only going to get 75 percent of the check immediately, the IRS is going to withhold 25 percent right off the top," Brager explained.

Though experts said there'll be a big tax hit on a jackpot this large, Brager said living in California has its benefits.

"California does not have a lottery tax or an income tax on lottery winnings for its own residents who buy their ticket within the state of California,"Brager said.

It's not just the winner who will get to cash in, as state lotteries generate about $68 billion in sales each year and a cut goes back to state budgets.

In California, schools benefit as millions go back to support education in the Golden State.

Planning to play on Wednesday? Your odds of winning are about one in 292.2 million.

Since 1986, the Brager Tax Law Group has been helping clients with problems dealing with the IRS and other taxing authorities. We have handled a wide array of issues that tax payers face. More recently, we're working with a number of clients around the world, who are dealing with the myriad of issues that surround foreign income and who are trying to navigate the complicated world of offshore income and taxation. Oftentimes, we use Skype for those who aren't able to come to our offices. If you have a tax issue that you'd like to discuss with us, please contact Jovana Smolovic at jsmolovic@bragertaxlaw.com or (310) 208-6200 to set up an in-person or Skype consultation. 

The Brager Tax Law Group is a tax litigation and tax controversy law firm, which represents clients with tax problems and tax disputes with the IRS, the California Franchise Tax Board (FTB), the State Board of Equalization (SBE) and the Employment Development Department (EDD). All of the firm's tax lawyers are former trial attorneys with the IRS. 

Dennis N. Brager, Esq.
Former IRS Senior Trial Attorney
Nationally Recognized California State Bar Certified Tax Specialist

Upcoming Speeches & Webinars

Strafford Publications
"Responding to Adverse IRS Audit Assessments: Audit Reconsideration Requests, IRS Appeals, and Settlement Strategies"
10:00-11:50 a.m. PT
March 1, 2016

Strafford Publications
"Navigating the Rocky Shoals of Bringing Your Clients into Compliance with their Obligations to Report Foreign Assets and Income"
10:00-11:00 a.m. PT
March 2, 2016

   Brager Publications

Marijuana Venture
August 2015

        In the News

KNX 1070 NewsRadio
January 12, 2016

Bloomberg BNA
December 2015

CNN Money
November 2015

Previous Events

Dennis' webinar, "A Brief Guide to Getting (and Keeping) Your Clients with Foreign Connections out of Trouble, Including FBARs, OVDP, and Lesser Known Issues" is available on the Brager Tax Law Group Website:
Click here for the Recording
Click here for the PowerPoint

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Brager Tax Law Group
10880 Wilshire Boulevard
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Los Angeles, California 90024
Tel: (310) 208-6200
Fax: (310) 478-8030