Take Advantage of a No-Hassle Casino Tax Refund for Canadians 

by Layla Kent Friday, February 11, 2011
Are you a Canadian citizen who regularly plays in a US casino? Did you know that the United States Internal Revenue Service imposes 30 percent casino tax on your winnings? Thirty percent represent a huge amount especially if you hit a jackpot in a lucrative slot machine. You might think that the gambling tax you paid can not be recovered anymore. Well, you are wrong because there is a way for Canadians to claim a casino tax rebate from the IRS. The good news is that you can easily find a reputable US company that facilitates casino tax refund for Canadians.

You have to understand that the United States and the government of Canada have an existing tax treaty. This makes Canadians eligible for a casino tax rebate. So even if the US Internal Revenue Service slashes your winnings by 30 percent, you can still get a partial or a full refund. If your winnings in a calendar year are bigger than your losses, then you may be eligible for a partial tax rebate. On the other hand, you can get a full refund if the gambling losses you incurred are bigger than your casino winnings. This tax rule will enable you to offset your losses. The money you can claim from the US IRS could be substantial and you have to get it before your eligibility expires.

There are certain things you need to prepare before you apply for a casino tax rebate. First of all, you have to look for an authorized US refund management company that facilitates casino tax refund for Canadians. Choose a reputable company that is recognized by the US Internal Revenue Service and Better Business Bureau. After finding a suitable tax recovery service, you can now prepare your documentations. The US IRS requires Canadian citizens to submit a diary of their gambling record in the US. The diary should include the date and type of gambling activities. You must also note the name of the casinos where you played. Your gambling diary must also include the amount of your losses and winnings. And lastly, you have to indicate witnesses who can attest that your claims are valid.

You have to support your gambling diary with the required documents. These documents may include casino receipts and winning slips. If you have played poker, you need to keep a record of your buy-in receipts. There is no need to worry because the tax recovery firm can assist you in preparing the right documentations. A reliable company that facilitates casino tax refund for Canadians will always have an excellent customer service. The service will help you in reviewing the documents required by the US Internal Revenue Service.

The last thing you need to do is to formalize your application for casino tax rebate. You should fill up an online form provided by the tax refund company. The company will determine if you can qualify for a refund. A trusted refund management service will never ask an upfront fee from you. You will be given a no-refund no-fee guarantee so that you can eliminate your risks when applying for a tax rebate.

Resource Box: Are you looking for a reliable service that facilitates casino tax refund for Canadians? Get the help of a tax recovery service authorized by the US Internal Revenue Service so you can claim a refund for the tax withheld on your casino winnings.
If you want to read more interesting articles on this topic please visit http://erikrichblog.normblogs.com.

General | Categories: financial
0    submitted by Layla Kent
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