| Canadian Gamblers: Get Back Your Taxed Gambling | | | | Service form 1042-S. Canadians with form 1042-S |
| Winnings | | | | will have had withholding taxes (including withholding of |
| Taxes are a fact of life. Gambling taxes are a form | | | | gambling taxes) paid to Uncle Sam. Luckily, thanks to |
| of taxation too. In Canada, gambling winnings are | | | | the Canada US tax treaty, Canadian gamblers are |
| considered windfall gains like insurance settlements. | | | | eligible for a refund of their US gambling taxes. |
| Thus Canadian gamblers, and especially the lucky | | | | Canadian gamblers can offset their US gambling |
| jackpot winning Canadian gamblers assume that ALL | | | | winnings against their US gambling losses. This results |
| of their gambling winnings are not taxed. | | | | in a partial to full refund of the Canadian's gambling |
| Unfortunately the Canadian tax system is especially | | | | taxes. Since the vast majority of gamblers have |
| generous when it comes to gambling taxes. In the | | | | gambling losses that equal or exceed the monetary |
| United States, the Internal Revenue Service renders | | | | amount of their gambling wins, most gamblers are able |
| gambling taxes at close to its highest marginal rates. | | | | to reclaim the entire amount of their previously withheld |
| Lottery wins and slot jackpots above a certain amount | | | | gambling taxes. |
| are subject to gambling taxes, and there are no | | | | Using a Certifying Acceptance Agent like US Gambling |
| exemptions for Canadian gamblers visiting American | | | | Refund for your refund management services will |
| casinos. Canadians are assessed US gambling | | | | ensure the largest, most comprehensive gambling tax |
| taxes. But as we'll see, Canadians are also eligible to | | | | refund. United States Gambling Refund's various |
| have their US gambling taxes refunded. | | | | professionals are well versed with cross border tax |
| The amount of gambling tax paid by Canadian | | | | laws and its related bureaucratic frustrations. US |
| gambling winners to the Internal Revenue Service is | | | | Gambling Refund has a simplified process for cross |
| based on complicated rules. For example, all slot | | | | border gambling tax returns. We help clients obtain a |
| jackpots of at least $1200 USD are taxed at 30%. | | | | U.S. Individual Taxpayer Identification Number (ITIN) for |
| Thus, slot jackpots of $1199.99 USD and under are not | | | | the client. Then, we apply for an IRS tax refund on |
| taxed. If you have won $1200 USD exactly at a US | | | | behalf of its client. The entire process generally takes |
| casino with 30% withholding tax deducted, the IRS will | | | | three to four months. A Certifying Acceptance |
| withhold gambling taxes of $360 USD and you get a | | | | Agent like United States Gambling Refund will help |
| take home amount of $840 USD. Many Canadian | | | | Canadian gamblers negotiate the myriad obstacles of |
| gamblers hit with the US gambling taxes are | | | | the Internal Revenue Service's tax laws. We will deal |
| disappointed, but few will take the necessary steps to | | | | with the IRS, allowing you to enjoy more of your |
| reclaim their taxed winnings. | | | | gambling wins. It's your money, you should enjoy as |
| Canadian gamblers who have been assessed US | | | | much of it as possible. |
| gambling taxes will be issued an Internal Revenue | | | | |