Archive for the ‘TAX REFUND’ Category
How To Get a US Gambling Tax Refund
June 26th, 2010 | 
Author: If you have been to the United States within the past three years and have won any quick bucks gambling, then there is good news for you, you could be eligible for a gambling tax refunds. Only few of non US gamblers know that the money that had been taken from them as tax, is refunded by the Internal Revenue Service. According to the US laws any person whether a resident or a visitor, has to pay tax if they have won over $1200 in the casino.
Generally, non-business gambling winnings received by a nonresident alien are treated as income not effectively connected with a US trade or business and are taxed at a flat rate of 30%. There is generally no allowance for gambling losses on the nonresident return. Certain types of gambling income received by a nonresident are exempt from taxation under the Internal Revenue Code. They include casino winnings from blackjack, baccarat, craps, roulette, and big-6 wheel. A recent law also exempts certain horse-racing and dog-racing gambling winnings from the income of nonresident aliens.
Additionally, some tax treaties exempt gambling income for residents of the following countries: Austria, Czech Republic, Denmark, Finland, France, Germany, Hungary, Ireland, Italy, Japan, Latvia, Lithuania, Luxembourg, Netherlands, Russian Federation, Slovak Republic, South Africa, Spain, Sweden, Tunisia, Turkey, Ukraine, and the United Kingdom.
But, How To Get a US Gambling Tax Refund for non US ?
While the law states that you are entitled to get a US tax recovery if you are a non US resident and have won the money within the past three years, but it can be very mystifying for those who are not well conversant with the laws and regulations. You would first of all need to have an Individual Taxpayer Identification Number (ITIN) and then you would need to submit W7 form to IRS along with some documents such as Foreign driver’s license, Foreign voter’s identity card, Visa as proof of identity and foreign status. You can get up to 30 percent of the money you won. It can take several weeks before you finally get your money back as the process and the procedures involving the return can be very lengthy. If you do not want to go through all these hassles but still need the tax refund then contact any of the numerous agencies that are available who would do the job on your behalf.
You can visit this website : http://www.casinotaxrebate.com, if you’re looking for a U.S. Gambling Tax Recovery Services that can help obtaining your ITIN with a professional and straightforward manner. This company established in 1979, and they are a member of BBB (Better Business Bureau) since 2006 and an IRS authorized Certifying Acceptance Agent. They won’t charge you any fee if your tax didn’t refunded.
Posted in FINANCIAL, TAX REFUND | 
Tags: gambling tax, gambling tax recovery, gambling tax refund | 
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Gambling Tax Refund
If you enjoy gambling as an entertainment, then winning or losing at a gambling game is not the end of the story. If you win a gambling game then you need to pay gambling tax for that. It might confuse you about how to deal with this tax problem. As per the IRS rules, a casino will report all your winning records to the IRS. Even if you win a smaller amount, it’s your legal duty to inform this to the IRS. IRS might not catch hold of you initially but later on they will get to know and will create a problem for you.
Canadians who gamble in the United States may find that 30% of their winnings are withheld to cover U.S. non-resident’s tax. Under certain circumstances, this tax can recover by filing a U.S. tax return. The IRS requires casinos and other gambling establishments to withhold 30% of the gambling winnings of Canadian visitors to the U.S. However, if you also have U.S. gambling losses during the year, it is possible to file a 1040NR return, deduct those losses from your winnings, and receive a refund of the tax withheld. You must have received 1042-S forms (or W-2G forms) from the gambling establishments showing income and tax withheld, and you must be a U.S. non-resident, for this procedure to work.
If you are not in expert in this gambling winnings tax refund subject, the best solution for your problem is provided by CASINO TAX REBATE. This company established in 1979, and they are a member of BBB (Better Business Bureau) since 2006 and an IRS authorized Certifying Acceptance Agent, providing U.S.A. Individual Taxpayer Identification Number certifications and US Refund Management Services. They can get you an Individual Taxpayer Identification Number and provide you with U.S. Gambling Tax Recovery Services. The process is easy and risk free, they won’t charge you any fee if your tax didn’t refunded. This will simplify the long process with the IRS, if you do all the gambling tax refunds on your own. And finally you can get your winning money again.