Casino Tax Refund
Sports & Recreations → Casino-Gaming
- Author Mo Arviv
- Published April 21, 2010
- Word count 503
Casino tax refunds are commonly overlooked because many people do not understand the tax laws surrounding gaming or gambling winnings. There are a few forms the IRS uses to give to all players who win money, and the casino tax refunds are comprised of these forms. If you win more than $600 from any lottery or other betting transactions where the winnings are at least the amount of how much you bet, if you win $1,200 of more from slots or bingo; if you win more than $1,500 playing keno; you win more than $600 from horse races, dog races or jai alai or any winnings you may get from playing poker you can use our services.
Our company will get the proper forms 1042-S that is sent to all winning players as well as sent to the IRS by the casino. We will take care of all the submissions and completion of all forms required to get your money back for you. In just a few short steps, our company will work on your behalf to get up to 30% of your withholding taxes back. Since you are required to pay up to 30% withholding tax on all these winnings, don’t you think you should be able to get some of it back? The US-Canada Treaty creates a loophole where any resident of Canada that visits the United States and gambles can recoup some of their losses through a gambling tax refund. However, there are few who can claim the tax refund and you have to know whether or not you can get your rebate.
To qualify for the rebate, you must have:
Played for stakes expecting to win a game; played keno; blackjack poker tournaments, slot machines of any kind, dog or horse racing or if you have played bingo in the United States you are eligible for the rebate. If you have won any amount of money that required you to pay taxes at the time of your winnings being handed over to you, you can get most of that money back. In order to get your money however, you will need the ticket or stub showing where you played and won the game, as this shows how much you won. If you do not have this information, we will contact the gaming business you visited to get the information. We then work with you to get all the information we need to fill out the paperwork on your behalf. Once complete, it can take about 3 weeks on average to get your paperwork turned in and another 3 weeks on average for you to get your check. The casino tax refund is a way of keeping some of your winnings out of the IRS’ grasp. It is not illegal in any way to use the casino tax refund, as we work directly with the IRS and other government agencies. If you want more of your winnings in your pocket, contact us today to get your casino tax refund from a professional company who works for you.
US Tax Recovery will put YOUR cash back into YOUR pocket. For details visit http://www.ustaxrecovery.com
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