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Playing casino and other gambling games is a fun experience more so at the United States which is considered to be a gambling hot spot. This is because the amount of the casino winnings at the United States is very lucrative compared to other countries. But many people are unaware, that about one third of amount won in jackpots and games go as tax to the government. In the US you will be taxed 30% on your winning amount and it is by the law to withhold 30% of the winning.
However, after certain period of time you can claim for refund of the tax amount so paid. Claiming for casino tax refunds depends on your country of origin. Certain steps can be followed for this purpose.
· Keep a track of all your winnings, amounts etc. as these are required in case of claiming the refund. Maintaining a track will help you to understand how much refund are you supposed to get back. This can be kept in the form of a receipt, ticket, record or statement.
· If you have won the game and want to claim for the casino tax refund, then you should contact a professional casino refund service. A reputed and a professional casino refund service can guide you through all the procedures for claiming the refund. Such professionals are aware of all the forms required and most importantly they know the tax laws of US as well as of your country of origin.
· If you are from a country like Canada then you may not be refunded the full amount because of a tax treaty signed between Canada and the US. But a professional casino refund service can get you the maximum amount of your refund. and if you belong to any of the countries like Czech Republic, Germany, Denmark, Ukraine, South Africa, Tunisia, Slovenia, Slovak Republic and likewise, then you will be getting the full amount of your refund. The citizens of these countries can set off their game losses with the winnings and can claim for tax refunds too without any difficulties. This comes as a benefit for the winners of the treaty countries and states.
· The main documents that would be needed to claim for casino tax refund are your driving license or passport. The voter’s registration or birth certificate can also be submitted to validate your identity. Also remember to mention your tax id in the USA. Other related documents can be guided by the casino refund services itself.
· You can file for a casino tax refund within three years of winning. So if you have not thought about getting any money back and the three year period has not lapsed, you can still apply for refund claim.
· In case you have US ITIN number then the claim takes about nine weeks to get settled. But in case, you do not possess the number, the refund of tax may take a little longer, about twelve to fifteen weeks.
· There are many companies in the World Wide Web which offer casino tax recovery services. All you will have to do is mention your ITIN (if you have) and give proof of your identity. Even if you do not have the number, the refund companies will work independently in helping you get your share.
Thus, whether you have won from tournament games, bingo, slot machines, keno, dog or horse wagering and paid the mandatory tax to the IRS, you can claim for a refund. Now you have more reasons to play, win and celebrate!
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