The IRS Tax On Gambling

If you gamble in the United States at a legal casino and win, then chances are that you are going to pay the US gambling tax. If you win more than $1200 at any casino, the casino will withhold 30 percent of the money that you won for the US gambling tax. This is done to make sure that you declare your winnings on your income tax statement. You will get a win slip that is filed with the IRS to make sure that they know that you have already paid your taxes for this income. However, those who are not US citizens may be entitled to receive US tax recovery. As they may have to pay taxes on their income in their own country, US tax recovery allows them to recover the taxes that they won at the casino and were paid to the IRS so that they are not paying on their winnings twice.

US tax recovery can be a long and complicated process, especially for those who are not familiar with the workings of the IRS who now have the money that was withheld from the casino. In order to get the money back from the IRS, you need to seek out a company that will help you with the US tax recovery. You can get back US gambling tax if you are a legal resident of another country and are not a citizen of the United States. You have to complete various forms for this process as well as provide adequate documentation about the taxes that were withheld as well as your own residency proof. You will also have to show why you were in the United States. All of this information aids in US tax recovery.

There is a time limit as to how long you can get a refund on your US gambling tax. After a few years, you will not be eligible for US tax recovery, so it is best to act as soon as possible to get this money that is due to you. Your best option is to use a service that will help you retrieve your US gambling tax from the IRS. They will be familiar with the forms that you need, be able to help you provide the right documentation, and will also be able to get the win slip that states how much you paid in your US gambling tax. You stand a far better chance at obtaining US tax recovery from your gambling winnings if you use a service than if you attempt to do this on your own. You may find that the process is frustrating, that you fill out the wrong forms and may be continually asked for information. If you are from another country and are a legal resident of that country and won money at a casino in the United States and had US gambling tax withheld, you may be eligible for US tax recovery for those gambling winnings. As the amount of tax is thirty percent of your winnings, it is well worth your time to seek out a company that can help you with this process and get this money back from the IRS.

Resource: If you gamble in the US but are not a citizen, you may be eligible for US tax recovery. You may be able to get the US gambling tax that was withheld from your winnings back from the IRS if you visit US Tax Recovery.