| recovery. US tax recovery sounds as interesting as | | | | tax on table games in general. But table game |
| US bank reconciliation, or US refund management | | | | tournament winners (e.g. poker tournament winners) |
| services. US bank reconciliation sounds like something | | | | are hit with the casino winnings tax. |
| out of an advanced accounting textbook. Refund | | | | Luckily the US-Canada tax treaty explicitly states that |
| management services sounds like something that helps | | | | Canadians are subject to the same treatment under |
| tenants recover security deposits. Yet US tax | | | | US tax laws as Americans. Americans are eligible to |
| recovery is something that is very useful for Canadian | | | | partially or fully offset their casino winnings tax by |
| gamblers. To put it simply, US tax recovery is a term | | | | deducting their gambling losses from their gambling |
| for a gambling tax refund. Are you still befuddled? Has | | | | wins. American gamblers file for a refund of their |
| this already bored you? If you are a Canadian who | | | | casino winnings tax in their annual IRS tax return. While |
| has gambled, or will gamble in the US, you may require | | | | Canadians are eligible for a US tax recovery, refund |
| US tax recovery services. | | | | management services, etc. Canadians are generally |
| The Internal Revenue Service (IRS) levies a casino | | | | not allowed to file US tax returns. Canadians who are |
| winnings tax on US jackpot winners. If you are a | | | | aware of their rights to reclaim their casino winnings |
| Canadian who gambles in the United States, there is a | | | | tax are often unsure of the casino tax refund |
| good chance you will eventually be hit with the casino | | | | procedures, or go to the IRS, only to be given the |
| winnings tax. The casino winnings tax is set at 30% of | | | | runaround, or asked to send in the ORIGINAL |
| the jackpot. 30% is close to the top marginal tax rates | | | | passports for several weeks in order to verify the |
| in the United States. The minimum threshold for the | | | | casino tax refund applicant’s identity. The casino |
| casino winnings tax is $1200 for slot machines and | | | | winnings tax collected from Canadian gamblers is very |
| bingo, and $1500 for keno. There is no casino winnings | | | | high. |