| Canadians Are Entitled To A Recovery Of Casino | | | | refund of his/her IRS winnings tax. If the gambling |
| Taxes | | | | losses are smaller than the gambling winnings, the |
| Here's something to chew on: Canadians pay millions | | | | gambler will receive a partial refund of US gambling |
| of dollars in US taxes. Canadians are assessed the | | | | tax. If the gambling winnings are equal to, or larger than |
| IRS winnings tax on their US-based gambling jackpots. | | | | the gambling winnings, the gambler will receive a FULL |
| Canadians are legally entitled to pursue an IRS tax | | | | refund of US gambling tax. Since most gamblers will |
| recovery and a refund of the US gambling tax. Yet | | | | have losses that are at least as large as the gambling |
| the vast majority of these Canadians is unaware of, or | | | | wins, these gamblers are legally entitled to a full refund |
| simply gives up hope of a recovery of casino taxes . | | | | of US gambling tax. |
| American gamblers are charged the IRS winnings tax | | | | Pursuing An IRS Tax Recovery |
| too, yet regularly pursue a recovery of casino taxes in | | | | As said earlier, dealing with the IRS is not an easy task. |
| their yearly tax returns. Sound frustrating? It is true, and | | | | It is made worse when a non-American is attempting |
| thousands of Canadian gamblers unjustly reward | | | | to pursue an IRS tax recovery. US citizens have a |
| Uncle Sam every year when they abstain from an IRS | | | | rough enough time with the IRS. Non-Americans, |
| tax recovery . | | | | including Canadians have a worse time when dealing |
| When Is The IRS Winnings Tax Charged? | | | | with the IRS. The IRS is not answerable to |
| The IRS Winnings Tax is taken off your gambling | | | | non-Americans, and they have little incentive to provide |
| winnings whenever the jackpot goes above a certain | | | | cogent information. The IRS winnings tax represents a |
| minimum threshold. The threshold for the IRS winnings | | | | lot of income to the IRS, and Canadians who attempt |
| tax is dependent on the game. For slot machine | | | | to obtain an IRS tax recovery for themselves may |
| jackpots and bingo jackpots, the IRS winnings tax | | | | face a gauntlet of conflicting information and |
| takes effect at $1200US. For keno jackpots, the IRS | | | | unreasonable demands. Will you be willing to wait in line |
| winnings tax takes effect at $1500US. For horse | | | | at the IRS office and/or submit your original passport |
| racing wins, the winning ticket must be at least $600US | | | | by mail and let the IRS keep it for several months at a |
| more than the amount of the original wager, and also | | | | time? You may have to do that if you deal with the |
| must have paid at least 300 times the amount of the | | | | IRS while attempting an IRS tax recovery. |
| original wager. Sound complicated? It is. The various | | | | An Easier Way To Obtain An IRS Tax Recovery |
| rules regarding the IRS winnings tax are complicated | | | | Largely in response to complaints, and to deliver better |
| and difficult to comprehend. The rules regarding any | | | | service standards, the US Government has licensed a |
| possible recovery of casino taxes are similarly | | | | small group of firms to act as certifying acceptance |
| convoluted. | | | | agents. Certifying acceptance agents are well versed |
| Attaining A Refund Of US Gambling Tax | | | | with US tax laws and are verified to have the utmost |
| The US tax code allows the tax on gambling winnings | | | | in professional standards. Certifying acceptance |
| to be reduced by the gambler's corresponding | | | | agents can act on behalf of Canadian gamblers in their |
| gambling losses. Thus any gambler with ANY | | | | dealings with the Internal Revenue Service. |
| US-based gambling losses can receive a partial or full | | | | |