Refund Management Services (www.RefundManagement.com), the number one choice for Canada’s biggest winners for U.S. gaming and casino tax refunds, congratulates the top-placing Canadians competing at the 47th annual World Series of Poker (WSOP) Tournament currently under way at the Rio All-Suite Hotel and Casino in Las Vegas. Refund Management Services also reminds Canadians and other eligible players attending the WSOP that their winnings are subject to a 30% withholding tax.
“A week into the 68-event tournament and a number of Canadian poker players have already cashed in at the WSOP,” says Brooke Sacks, vice-president of marketing and business development at Refund Management Services. “While no Canadian players have taken a bracelet yet, the tournament runs through July 18. There are high hopes, though; in 2015, Canada booked four bracelets.”
In event number two, Colossus II No-Limit Hold’em, Richmond Hill, Ontario native Andrew Yip put in the best performance for a Canadian, placing 11th and winning $72,054. Warren Chu placed 17th and cashed in $44,740, Ping Lin finished 25th with $35,584, and David Elfan finished 45th, earning $22,939. Over 100 Canadian poker players cashed in at Colossus II, the world’s largest live poker event with 21,613 entrants. (Source: “Results Event #2: $565 Colossus II No-Limit Hold’em,” wsop.com data sheet, June 7, 2016; http://www.wsop.com/tournaments/results.asp?tid=14902&grid=1232.)
“A number of other Canadian poker players cashed in other events. Jeffrey Fast finished 26th with $2,066 at event number one, Casino Employees No-Limit Hold’em, while Graydon Kowal was the top Canadian in Event number four, Top Up Turbo No-Limit Hold’em, finishing with $2,447. And Clayton Mozden was the top finishing Canadian at event number five: Dealers Choice 6-Handed, cashing [in] $3,387,” Sacks adds. “Canadian poker players have been well represented so far with only five of the 68 tournament events being played.” (Source: “WSOP 2016 Results,” wsop.com, June 8, 2016; http://www.wsop.com/tournaments/results.asp.)
Sacks explains that it’s important for Canadian and other eligible non-U.S. residents competing in the WSOP to remember that winnings over $1,200 are considered taxable income by the Internal Revenue Service (IRS) and subject to a 30% withholding tax. But there is a way for Canadians and other eligible non-U.S. residents to get all or a portion of their gaming withholding tax back.
“Refund Management Services is Canada’s most reliable and experienced poker, gaming, and casino tax refund provider. In fact, RMS is where many Canadian WSOP winners turn when it comes to getting their 30% withholding tax back,” Sacks concludes. “That’s because the chartered accountants at RMS have never been refused an eligible refund. It can take a minimum of one year for the IRS to review the claim and for RMS to receive the refund.”
There are a number of countries that currently do not have a U.S. tax treaty. However, residents in any of the following countries could still be eligible for a refund: Australia, Bahrain, Barbados, Brazil, China, India, Indonesia, Israel, Kuwait, Mexico, Malaysia, Monaco, New Zealand, Norway, Saudi Arabia, Singapore, South Korea, Switzerland, Taiwan, Thailand, and the U.A.E.
Founded and owned by a Canadian chartered accountant, Refund Management Services is the most reputable casino and gaming tax recovery service in the industry. As registered Certified acceptance agents, Refund Management Services (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 expertise in gaming-related tax laws, RMS understands all the IRS requirements to ensure that any eligible refund is successfully recovered. RMS only gets paid for successful gambling tax refunds. RMS 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: [email protected].