| I Have Won Big! Now Need A U.S. Gambling Tax | | | | is eligible to receive a gambling tax rebate. |
| Refund. | | | | Obtaining A U.S. Gambling Tax Refund |
| Canadian gamblers obviously love to gamble. | | | | While the IRS tax laws specifically entitle most |
| Sometimes these Canadians wander south and test | | | | gamblers to obtain a U.S. gambling tax refund, actually |
| their luck at U.S. casinos. When Canadians win big at | | | | obtaining a U.S. gambling tax refund is fraught with |
| U.S. casinos, they are often hit with the dreaded | | | | frustration. The IRS is infamous for its bureaucracy. |
| Internal Revenue Service (IRS) taxes on gambling. | | | | Furthermore, the IRS is specifically set up for domestic |
| Then they'll have to seek out IRS tax recovery | | | | purposes. The IRS has very few resources for |
| services to help with a U.S. gambling tax refund. | | | | foreigners trying to obtain a U.S. gambling tax refund. |
| The term ‘IRS tax recovery' sounds about as | | | | Think of it, what incentive does the American tax |
| interesting as most high school essay topics. In other | | | | department have to provide a U.S. gambling tax refund |
| words, ‘IRS tax recovery' sounds like the cure to | | | | to foreigners? Both Canadian and American |
| insomnia. Unfortunately, while ‘IRS tax recovery' | | | | accountants are generally unsure of the methods to |
| may sound boring, IRS tax recovery services are | | | | obtain foreign tax refunds. It is just such an obscure |
| necessary for any Canadian gambler wishing to | | | | procedure. |
| receive a U.S. gambling tax refund. | | | | There are also eligibility procedures and required proof |
| What Is The Threshold For The Tax On Slot | | | | of the Canadian gambler's identity, involving sending the |
| Jackpots? | | | | Canadian applicant's original passport to the IRS. |
| The IRS tax on slot jackpots takes effect at $1200 | | | | Then there are long waiting times, all without any |
| US. There is no tax on slot jackpots for wins of | | | | guarantee of obtaining an actual gambling tax rebate. |
| $1199.99 US or less. The tax on slot jackpots is a flat | | | | Stories of people applying multiple times for one |
| 30% of all slot jackpots of $1200 US or more. The | | | | theoretically straightforward tax refund are not |
| tax on slot jackpots is applied to all slot machine wins | | | | uncommon. |
| in the United States. The IRS tax on bingo wins is | | | | Certifying Acceptance Agents And Obtaining A U.S. |
| also set at $1200 US. Yet keno wins have a $1500 | | | | Gambling Tax Refund |
| US tax threshold. | | | | Certifying Acceptance Agents have been certified by |
| The Laws Regarding The U.S. Gambling Tax Refund | | | | the IRS to help Canadians and other non-Americans |
| Under IRS laws, gambling losses can be deducted | | | | with their US taxes. Certifying Acceptance Agents |
| from gambling wins. Thus anyone who has paid the | | | | have been verified to have the requisite knowledge |
| IRS gambling taxes who also has corresponding | | | | and professionalism to help Canadians and other |
| gambling losses is eligible for a gambling tax rebate. If | | | | non-Americans with American taxation. They can |
| their gambling losses are smaller than their gambling | | | | streamline the U.S. gambling tax refund process and |
| wins, they will receive a partial gambling tax rebate. If | | | | guarantee the largest, most thorough US tax refund. |
| their gambling losses are as large or larger than their | | | | Canadians should be able to enjoy their US gambling |
| corresponding gambling wins, they will receive a full | | | | wins. Dealing with the IRS and pursuing a U.S. |
| gambling tax rebate. Since the vast majority of | | | | gambling tax refund is better left to the professional |
| gambling winners have significant gambling losses, just | | | | firms, with Canadian gamblers enjoying their casino |
| about every person who has paid IRS gambling taxes | | | | wins while gambling in the United States. |