Lottery Winnings Tax Recovery
Similar to slot machines, many people believe there are definite strategies to winning the lottery. At Refund Management Services our advice is not to believe any of those people. The lottery is a draw of luck and your ability to pick random numbers in a sequence that turns out to be correct. No other strategy exists. However, we have something much more valuable to offer than our opinion on winning the lottery: we help lottery winners from outside the U.S. recover the taxes taken off their prize money.
IRS Tax for Lottery Winnings
Canadians and other non-U.S. residents who win the lottery in the U.S. must understand that they will get taxed. Unlike Canada where lotto winners go untaxed, U.S. lotto winners are taxed at the highest percentage, which is 30%. However, Refund Management Services has a great deal of expertise in lottery winnings tax refunds, ensuring you get all or a portion of what was paid to the IRS.
Do You Qualify for a Lottery Winnings Refund?
It’s important to note that Canadians and other non-U.S. citizens can and, in fact, do play the lottery in the U.S. and are perfectly within their rights to do so. What sometimes happens is that these visitors forget to claim their winnings after they have left the U.S.
Since Canadians and other non-U.S. residents are eligible to play the lottery in the U.S., they are eligible to win and, of course, are taxed accordingly. Any winnings above $600.00 are taxed at 30%. However, in most instances, to claim a full refund, your gambling losses must be equal to or higher than your lottery winnings. Again, figuring out these circumstances is best left to professionals like Refund Management Services.
You Can Get a Gambling Tax Refund for Lottery Winnings
Instead of deciphering this mountain of information on your own, trust Refund Management Services to help you recover your U.S. gambling tax refund. We have the knowledge and the experience, having already helped thousands of Canadians and other international winners reclaim their lottery prize money. And the best part is that we don’t get paid unless you get paid, so there’s absolutely no risk involved. We help you maximize your winnings without the stress of doing all the work.