We can help Canadians recover casino withholding tax back from U.S. The IRS requires that casinos and other gaming establishments withhold 30% of the gambling winnings of International visitors.
However, due to the U.S. Canada Tax Treaty, Canadians can recover all or significant portion of their casino withholding tax back. The tax refund is obtained by following two basic steps:
You can also claim US gambling losses during the year, in the 1040NR return. This allows you to deduct losses from your winnings, and receive a refund of the tax withheld. In order to claim 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. It is recommended that you must also have records to substantiate your losses, as required by the IRS. To deduct your losses, you must be able to provide receipts, tickets, statements or other records that show the amount of both your winnings and losses. It is advised that you keep record of the date, location, and type of your gambling activities, as well as amounts won or lost. These records do not have to be submitted with the tax return, but must be available if requested by the IRS.
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