Get Casino Winnings Tax Sent Back To You
Here’s the upside. You can win a lot of money gambling in the United States. Of course, there’s another side of the coin and that means you’re also subjected to a casino winnings tax. In fact, Uncle Sam could withhold up to 30% of your winnings. Still, there’s no reason to avoid the gaming tournaments or slots when you’re south of the border.
You just need the services of a good gaming tax refund company. These are the folks that make it their business to get you your cash back. However, there are a few requirements you need to meet at your end to ensure the process works out in your favour. You’ll need an IRS Form 1042 from the casino that you were playing in. Misplaced it? That shouldn’t be a problem when you’re dealing with a reputable company. Any casino and gaming tax recovery service that’s worth its weight in gold will have developed relationships with gambling establishments in the US and can get the necessary forms.
Speed is of the essence when you’re looking to get casino winnings tax money back and looking for the company that’s upfront about the time it takes speaks to their credibility. Making sure you’ve got the proper documentation helps. With it, expect a turnaround time of 12 to 15 weeks. With a proper ITIN#, that time can be cut down to 6 to 9 weeks.
Make sure the place you’re considering is clear on everything that you’ll need to be eligible, from the documentation like a passport and driver’s license to how to report any gaming losses. Finding a company that’s an agent of the IRS is another great benchmark to go by.