The 1042-S form(s) issued by the casino for your jackpot - Your Win/Loss Statement(s) from the casino, or gambling activity log if you kept one. A completed W-7 form, if you don't already have an ITIN. A completed 1040NR Tax return for each year you are claiming. (if you have wins in more than one calendar year, file a tax return for each). US Tax Recovery is a withholding tax recovery service that specializes in casino tax recovery on behalf of Canadians and other non-US citizens. Each year, millions of visitors to the United States win money in legal casinos, and find themselves having to pay a 30% withholding tax on these winnings. Unlike Canada, the U.S. Does not let you have lottery or gambling wins tax-free. So whether you are playing fantasy sports sites based in the U.S., gambling in Vegas or playing a U.S. The casino withheld 30 percent of my winnings for U.S. Income tax, and didn't allow for the fact that I was down $300 on the day and had the tickets to prove it. Someone at the casino told me that he thought the money was recoverable for Canadians once they returned to Canada. A If this was in 1998 or later, you're in luck.
Recovering U.S. Tax on Gambling Winnings
List of laughlin casinos. As a Certifying Acceptance Agent ('CAA') in Columbus, Ohio, Porter Law Office, LLC offers comprehensive gambling tax refund services. If you have visited a casino in the United States and won money gambling, you are well aware of the 30% tax that the casinos withhold from your gambling winnings.
Porter Law Office, LLC is a full-service law firm and CAA that assists residents of Canada and certain other countries claim a full refund of U.S. tax on gambling winnings withheld by the casino. River rock casino parking price.
Gambling Tax Refund Attorney
Porter Law Office, LLC is an IRS-approved CAA who assists Canadians and other non-residents who gamble in the United States with recovering taxes withheld on gambling winnings. Matthew R. Porter is a tax and immigration lawyer who has the international taxation experience to assist you through the administrative channels of the IRS to secure your casino tax refund.
U.S. Casino Tax Refund Services
The IRS will not voluntarily issue your casino tax refund. You must start the process. Simply filing the required forms to obtain your casino tax refund is often times not enough. In fact, submitting an incomplete or inaccurate return can significantly delay your refund. Negotiating with the IRS during the gambling tax refund recovery process requires an in depth understanding of the IRS's practices and procedures as well as the substantive gambling winnings and gambling loss record-keeping requirements.
Columbus tax attorney Matthew R. Porter has in depth experience negotiating with the IRS to recover frozen refunds of the gambling winnings tax. The IRS may freeze your gambling tax refund and require you to substantiate (prove) your gambling losses.
Release of Frozen Gambling Tax Refund
In a representative case, Mr. Porter assisted with obtaining the release of a gambling tax refund of approximately $2M. The IRS had frozen the refund and audited the taxpayer. Specifically, the IRS requested that the taxpayer prove gambling losses. The company that assisted the taxpayer with filing the Form 1040NR obtained the ITIN and filed Form 1040NR for the taxpayer, but did not perform its legal due diligence. Mr. Porter assembled detailed documentation of the taxpayer's gambling losses. After providing the IRS with the gambling loss documentation and legal arguments in favor of releasing the frozen refund, the IRS released 100% of the gambling taxes reported on the taxpayer's Form 1040NR.
Disclaimer: Results may vary based on specific facts and circumstances surrounding each individual case.
Contact Porter Law Office, LLC
Porter Law Office, LLC will stand up to the IRS to ensure that you receive the casino tax refund to which you are entitled. Tax attorney Matthew R. Porter has the experience needed to obtain your casino tax refund. If you have not filed your Form 1040NR, or if you have filed and the IRS has frozen your casino tax refund, contact Porter Law Office today for a free consultation to discuss your case.
Free Case Evaluation
Tips for Claiming Tax Back from US Casino Winnings
You won big in Las Vegas, Atlantic City, Reno, or one of the other gaming destinations in the U.S. Once you win a jackpot, you're faced with a very unpleasant revelation: you are immediately taxed on your winnings. However, Refund Management Services advises that there is a way to get all or a portion of your taxes back from the IRS.
You can win a lot of money gambling in the United States. Of course, that means you're also subjected to a casino winnings tax.
If you've made a trip to the U.S. and your gaming winnings are high enough or you win a prize and take the cash equivalent, the IRS will deduct 30% off of your winnings. Nobody wants Uncle Sam to withhold their winnings.
Still, there's no reason to avoid the gaming tournaments or slots when you're south of the border. Here is what you need to know about before you travel to the US to gamble and how to claim and get tax back from us casino winnings.
- Once your US casino winnings pass a certain threshold (which differs by casino, but is often $1,199) you will be subject to withholding tax. When this happens, you will be issued a W2-G or 1042-S slip.
- Don't wait more than three years to claim gaming winnings on a tax return; that said, if you've won in the current year, we will be filing a claim at the beginning of the next calendar year. Most of our customers typically contact us within a few days of returning to Canada or their country of origin, so we can begin preparing the paperwork for them to get the refund that is rightfully theirs. If you delay submitting your claim, you won't be entitled to a refund after 3 years.
- Keep track of all your US wins and losses every time you go, reporting your losses will maximize your return.
- It's not just US casino winnings that are taxed, other gaming activities can be taxed like lotteries, raffles, and races.
- Remember that you can also claim taxed gaming winnings on a variety of games, such as lotteries, raffles, and horse races.
- When it comes to getting tax back from US casino winnings, you have a few options:
How To Get Tax Back From US Casino Winnings
Nearly four million gamblers win big in gambling cities across the U.S. and the IRS deducts taxes from all of them. However, as a non-resident of the U.S., there is a way to get your casino winnings back from the U.S. by hiring Refund Management Services to go through the process of obtaining a casino winning tax refund from the IRS. RMS is the easiest way to get your money back.
If you win $1,199.00 or more, contact Refund Management Services and we will obtain your taxed gaming winnings by filing a tax return. Take the stress out of the process by letting our trained experts handle it for you!
At the end of the day you have two options:
Option 1: Claim Tax Back from US Casino Winnings On Your Own
It is possible to file your own withholding tax return. While this may save you a small amount of money, it is only advised if you feel confident in your withholding tax filing skills. Much like your annual tax return, with so many opportunities to leave money on the table or make costly mistakes, claiming tax back from US casino winnings on your own can leave you in a costly position. Every year we deal with clients who have been denied their withholding tax refund by the IRS after filing independently. It is complicated, time consuming, and expensive to appeal this decision, so it's often not worth the risk.
Option 2: Use a Withholding Tax Refund Professional
These folks make it their business to get your tax back from US casino winnings. Although there is a fee associated to using a withholding tax professional, they will ensure you don't make any costly mistakes. To make sure you make the right choice, look for the following in your withholding tax professional:
1. Relationships with Casinos & Gaming establishments:
To start your claim process, you will need the IRS form 1042 from the casino you were playing in. If you misplaced it, that won't be a problem for a reputable withholding tax refund professional since their relationship will allow them to easily recover it from the casino you were playing in. Even if you haven't misplaced your form 1042, this is still a good quality to look for in your withholding tax refund professional.
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2. Honest About Your Refund Timing
Although speed is of the essence when you're looking to get your refund, due to the IRS wait times it is important to know that you'll be waiting 6 months at a minimum but usually a full year before receiving your US casino winnings tax back. This is AFTER the claim is submitted. Any agency that tells you you could receive your US casino winnings tax back sooner is being misleading to get your business.
3. Agent of the IRS
Agents of the IRS are people or companies that are allowed to certify your ID, a requirement when claiming tax back from US casino winnings. This means one less chore for you when making your claim.
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4. Excellent Track Record For Claim Approvals
The firm you use to claim tax back from your US casino winnings should boast at least a near perfect record when it comes to rightful claim approvals.
5. Owned and Operated by a Canadian Chartered Accountant
When claiming your tax back from US casino winnings, ensure the withholding tax specialist is a Canadian chartered accountant. This ensures your return is being handled by people with the appropriate expertise to be handling taxes. It will also provide you with insurance that your sensitive information will be handled professionally.
6. A Withholding Tax Industry Veteran
We are the longest standing withholding tax agency in the industry for a reason. Avoid leaving your refund in the hands of someone less experienced by choosing a withholding tax specialist who is tried, tested, and true.
7. Makes Casino Winnings Tax Refunds Easy
If you find you're filling out multiple forms, your withholding tax professional is not earning their fee. The point to using a service when getting tax back from casino winnings is that they do all the leg work and make sure it's done right.
RMS is the leading provider of withholding tax services for non-US residents. Learn why RMS is the right choice for claiming tax back from your US casino winnings and apply now for free.
