Us Tax Recovery Casino Winnings

  
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Based on the Canada / US Tax Treaty, Canadians are subject to a 30% withholding tax on their gambling or lottery winnings. As a result of the treaty Canadians are also able to recover all or a portion of the taxes paid on their gambling winnings. However Canadians are required to substantiate their gambling losses. The amount of your refund is based on the amount you have won and lost in the United States throughout the calendar year. It’s a good idea to keep a diary or log book that tracks the following information:

Tax

Refund Management Services (RMS) is here to provide gambling and casino tax recovery services for Canadians and non-U. Click Here or Call 1-888-272-5559 to Apply Now for FREE Welcome. We also help international winners to recover their US tax on casino winnings. Below are our fees to obtain an IRS gambling tax refund. Basic Filing Fee: $200 PER TAX RETURN + $50 PER ADDITIONAL 1042-S SLIP. Full or Partial IRS Gambling Tax Refund. Each tax year requires one tax return.

The IRS requires casinos and other gambling establishments to withhold 30% of the gambling winnings of Canadian visitors to the U.S. However, if you also have U.S. Gambling losses during the year, it is possible to file a 1040NR return, deduct those losses from your winnings, and receive a refund of the tax withheld.

Foreign Nationals, Tax on Gambling Winnings and US Tax Treaties The USA signed an income tax treaty with various countries. Several of these income tax treaties have a provision for the gambling income. There are select countries which have a tax treaty with the United States (US) that will reduce the 30% withholding tax on gambling proceeds. US Tax Recovery professionals will obtain a casino tax refund on your behalf. They will get back all or part of the taxes you paid on your gambling winnings. You don’t need to worry about confusing forms and documentation requirements, as US Tax Recovery will complete and file all the necessary forms for you.

  • Date and type of gambling activity or wager you placed
  • Name and address of the place you gambled
  • Names of other persons that were with you while you gambled
  • Amount you won or lost

Us Tax Recovery Casino Winnings 2019

Winnings

Us Tax Recovery Casino Winnings Tax

There are several ways of keep track of your gambling losses.

Us Tax Recovery Casino Winnings Calculator

  • Casino player’s card.
  • Bank or ATM slips showing withdrawals from your account.
  • Wagering tickets or slips
  • Checks and bank statements
  • Statements showing your winnings or receipts showing your payments that were issued by the gambling establishment.

Us Tax Recovery Casino Winnings 2018

The best way to keep track of your losses is to use a Casino Player’s Card that you insert into the slot machines. Using a Players Card will help keep track of your winnings and losses at that specific casino for a given year.

At the end of the year the casino(s) you had attended, will mail you a copy of your win/loss statement. This statement will provide a summary of your gambling winnings and/or losses.

If you are a Poker player keep the receipts of the buys during a Poker Tournament and note the wins and losses within the US.

It’s like winning all over again with US Tax Recovery.