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A Change In Taxing Non-U.S. Residents On Gambling Winnings

It can be both exhilarating and exasperating for visitors to the U.S. looking to have a good time at the casinos. On the one hand, the thrill of gambling can be intoxicating and allows responsible gamblers some time away from their everyday life to enjoy a new environment. And winning a little money is always exciting! However, having a significant portion of those winnings taken away due to the American laws surrounding tax on casino winnings can really put a damper on the experience.

Thankfully, that is no longer the case, according to Refund Management Services. With the amendment to tax recovery on U.S. casino winnings to residents of other countries being upheld by the U.S. courts, citizens outside of the United States are now able to keep a larger percentage of their gambling earnings from casinos.

This important amendment states that non-U.S. residents are now able to calculate the tax on their casino winnings on a per-session basis, rather than a per-wager one. In more encompassing terms, the tax rate for gambling winnings will be applied to the total net winnings of the person and not to the winnings of each game, as was previously accepted.

This is an important distinction, because it prevents non-U.S. gamblers from potentially leaving the casino with less money than they arrived with. The older method saw casinos send holdings directly to the IRS due to not wanting to incur any tax penalties. In turn, this made tax recovery from casinos much more difficult, as well as restricted the amount of winnings that were able to be recovered.

Helping clients keep more of their earnings is precisely what Refund Management Services aims to accomplish. The new laws in place entitle so many more international visitors to casinos across America to a bigger chunk of their winnings, which means we at Refund Management Services have more opportunities to help those visitors recover their earnings.

As beneficial as the change in law has been to casino goers, the matter of sifting through the necessary paperwork and understanding all that goes into recovering the entitled winnings is a process that should be handled by professionals that have a deep knowledge about tax recovery from American casinos.

Refund Management Services has been helping eligible non-U.S. residents from all over the world to recover their winnings long before this law came into practice. Now the opportunity to help becomes even greater, and Refund Management Services has over a dozen years of experience providing a comprehensive service where we handle all of the work, from start to finish, to recover the money that our clients deserve.

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