Someone Still Has to Claim a $1 Michigan Mega Million Prize

Have you ever felt like maybe you have some extra money sitting around that you just don't know about? What if that money was a whopping $1 million. It happens. Each year, winning lottery tickets go unclaimed across the United States. I don't know what I'd do if I found out that I won the lottery but didn't cash in my ticket in time. It would be depressing, for sure. Now, the winner of a $1 million Mega Millions prize is coming up on their due date for claiming that prize. So, they might miss out on the big bucks.

According to the Michigan Lottery said a winner of a $1 million Mega Millions prize last year has just one month left to claim their prize. The winning ticket from the March 17, 2023, drawing was sold at the CVS Pharmacy, located at 18130 West 10 Mile Road in Southfield, according to the release. The winning ticket matched all five white balls drawn in that contest: 26-28-29-39-49.

Mega Millions tickets are good for one year from the drawing date. Because March 17 falls on a Sunday, the winner must claim the prize by 4:45 p.m. on March 15. So, what happens if they don't get there in time? If the ticket expires, the money will go to Michigan's School Aid Fund. The Michigan Lottery says the winner should contact the Lottery's Player Relations division at 844-917-6325 to collect the money. Also, they must claim the prize at the Lottery's headquarters in Lansing.

Mega Millions drawings happen every Tuesday and Friday evening. What's more, each Mega Millions costs $2. For an extra $1 per play, "players have the opportunity to add a "Megaplier" that can multiply non-jackpot prizes by up to five times," the Michigan Lottery explains. "Mega Millions tickets are sold in 45 states, Washington D.C., and the U.S. Virgin Islands." For more information, visit the Michigan Lottery website here.

Tax season is truly in full swing. Tax deductions and credits are there to help people, so why not take the help? It might seem like a headache having to go through a long list of possible deductions, but it's really not so bad. I've gathered some information directly from the IRS to help you save this tax season. So, let's get into the dollars and cents.

Before we get into the savings, let's look at how credits and deductions work. According to the IRS, "You can claim credits and deductions when you file your tax return to lower your tax. Make sure you get all the credits and deductions you qualify for."

The definition of a credit, according to the IRS, is "an amount you subtract from the tax you owe. This can lower your tax payment or increase your refund." They note that some credits are refundable. That means "they can give you money back even if you don't owe any tax." If you want to claim credits, you must answer questions in your tax filing software. Or, if you're doing taxes the old-fashioned way, you'll have to fill out a form and attach it.

The definition of a deduction, according to the IRS, is "an amount you subtract from your income when you file so you don’t pay tax on it. By lowering your income, deductions lower your tax." In order to do this, you have to have documents to show expenses or losses you want to deduct. You can do this via tax software or, if you're filing a paper return, your deductions go on Form 1040 and you may need to attach extra forms.

Now, the fun part. Read on for tax deductions and credits that could save you cash this season. Here's hoping that Uncle Sam treats you well.

The standard deduction for 2023 is $13,850 for single or married filing separately; $27,700 for married couples filing jointly or qualifying surviving spouse; and $20,800 for head of household. "If you're married filing separately, you can't take the standard deduction if your spouse itemizes. You must both choose the same method," the IRS says.

To find the standard deduction if you're over 65 or blind, go here. To find the standard deduction if you're a dependent on someone else's tax return, go here.

According to the IRS, you can deduct these expenses whether you take the standard deduction or itemize:

Alimony payments
Business use of your car
Business use of your home
Money you put in an IRA
Money you put in health savings accounts
Penalties on early withdrawals from savings
Student loan interest
Teacher expenses
For some military, government, self-employed and people with disabilities: work-related education expenses
For military servicemembers: moving expenses

According to the IRS, you can deduct these expenses if you itemize:

Bad debts
Canceled debt on home
Capital losses
Donations to charity
Gains from sale of your home
Gambling losses
Home mortgage interest
Income, sales, real estate and personal property taxes
Losses from disasters and theft
Medical and dental expenses over 7.5% of your adjusted gross income
Miscellaneous itemized deductions
Opportunity zone investment

Tax season can be a confusing time. There are lots of bits and piece that you have to put together. That said, the IRS has a very helpful page with frequently asked questions. Find the list of questions and answers here. As always, it's also a good idea to get a professional to help with any questions.