How to Claim Gaming Winnings on a Tax Return
If you recently made a trip to any gaming destination in the U.S. and hit the jackpot, you might be wondering how to claim gaming winnings on a tax return. Refund Management Services is the leading provider of tax recovery services for Canadians and other non-U.S. residents looking to get the most out of their winnings.
If you make frequent trips to the U.S. for gaming purposes, keep a careful record of your gaming activity when looking to claim taxes back, either by using a players’ card or by keeping a log. The log should include information such as where you obtained your winnings, what type of gaming activity you participated in, dates, etc. We will only ask for this if requested by the IRS and will handle everything needed to claim your gaming winnings. Feel free to contact us with any questions.
Since 1998, we have obtained a full or partial refund on thousands of Canadians’ and other non-U.S. residents’ gaming winnings in the U.S. Our founder is a chartered Canadian tax accountant and our staff members are experts at navigating the at-times complicated world of IRS requirements for recovering these deducted funds. Let Refund Management Services handle your claim on gaming winnings that have been taxed. RMS is the easiest way to recover your money.
Tips to Get a Gaming Winning Refund
You shouldn’t have to give up even part of your winnings from a casino or other gaming facility in the U.S. That’s why Refund Management Services is here to provide you with tips on how to claim gaming winnings.
- Once you win a certain amount (usually $1,199.00), the gaming establishment will issue you a W2-G or 1042-S slip, as the amount you win is subject to federal withholding taxes in the U.S.
- Don’t wait more than three years to claim gaming winnings on a tax return; that said, if you’ve won in the current year, we will be filing a claim at the beginning of the next calendar year. Most of our customers typically contact us within a few days of returning to Canada or their country of origin, so we can begin preparing the paperwork for them to get the refund that is rightfully theirs!
- Remember that you can also claim taxed gaming winnings on a variety of games, such as lotteries, raffles, and horse races.
- If you win $1,199.00 or more, you will be taxed 30%. Contact Refund Management Services and we will obtain your taxed gaming winnings by filing a tax return. Take the stress out of the process by letting our trained experts handle it for you!