Refund Management Services (www.RefundManagement.com), the number one choice for Canada’s biggest winners for U.S. gaming and casino tax refunds, is weighing in on March being the busiest month for visitors in Las Vegas. Refund Management Services is also warning Canadians and other eligible non-U.S. visitors that their winnings from gambling and sports betting could be subject to a 30% withholding tax by the IRS.
“For many reasons, March is the busiest month for people visiting Las Vegas. In 2014, more than 3.6 million travellers stayed in Las Vegas, making it the single most visited month ever,” says Brooke Sacks, vice president of marketing and business development at Refund Management Services. “In fact, March 2015 could break the all-time attendance record.”
This March, people from all over the world will be travelling to Las Vegas to take advantage of a wide variety of events. NASCAR weekend started out the month with an expected 150,000 fans on March 6–8. Las Vegas is also the only city to host four NCAA basketball conference tournaments. On top of that, meetings, conventions, and trade shows are expected to bring more than 126,000 attendees to the city. (Source: Stevens, M., “March events bring Las Vegas business,” KLAS-TV web site, March 3, 2015; www.8newsnow.com/story/28247700/march-events-bring-las-vegas-business.)
Sacks explains that in 2014, visitors to Las Vegas spent an estimated $723 each, up $33 from $690 in 2013, with those attending conventions spending more than other travelers. Canadian and other non-U.S. visitors to Las Vegas need to be aware that winnings coming from gambling (slots, poker, keno, etc.), parimutuel, and sports betting are subject to a 30% withholding tax. (Source: “Las Vegas tourism impact rises to $50 billion in 2014,” Bradenton Herald web site, March 11, 2015; www.bradenton.com/2015/03/11/5683229_las-vegas-tourism-impact-rises.html?rh=1.)
“In the United States, winnings over $1,200 are considered taxable income,” she adds. “As a result, visitors from Canada who win $2,000 betting on an NCAA game or the slots will have 30% of their winnings withheld by the IRS. Instead of leaving with $2,000, they will bring $1,400 back to Canada when they leave Las Vegas.”
“Fortunately, there is a way for Canadians and other eligible non-U.S. visitors to recoup some or all of their U.S. gaming tax winnings back. Unfortunately, some decide to deal directly with the IRS and navigating the U.S. tax system on their own and have great difficulty navigating through the process and/or are unsuccessful,” Sacks concludes. “However, there’s a much easier way. The U.S. gambling tax experts at Refund Management Services have CA designations and are certified Certified acceptance agents for filing gaming tax refund applications. As the number one casino and gaming tax recovery service in the industry, we have never been refused an eligible refund.”
To find out how Refund Management Services can help with U.S. gambling tax recovery, visit www.RefundManagement.com.
Founded and owned by a Canadian chartered accountant, Refund Management Services (RMS) is the most reputable casino and gaming tax recovery service in the industry. As registered Certified acceptance agents, RMS helps Canadians and other non-U.S. residents recover all or a portion of their taxes up to three years after their winnings have been withheld. With the expertise in gaming-related tax laws, RMS understands all the IRS requirements to ensure that any entitled refund is successfully recovered. RMS only gets paid for successful gambling tax refunds. Refund Management Services is a member of the Better Business Bureau and the Las Vegas Chamber of Commerce. Contact Refund Management Services toll-free from the United States and Canada at 1-888-272-5559 or e-mail RMS at [email protected].