Toronto, Canada, July 6, 2016 – 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 Kristen Bicknell’s major World Series of Poker win, which makes her both the first female and first Canadian to win at this year’s event. Refund Management Services is also commenting on international poker gaming tax exemptions.
“St. Catherines, Ontario native Kristen Bicknell became the first Canadian and woman to win a bracelet at the 47th Annual World Series of Poker (WSOP) tournament currently underway at the Rio All-Suite Hotel and Casino in Las Vegas,” says Brooke Sacks, Vice President of Marketing and Business Development at Refund Management Services (RMS). “Bicknell, just the 23rd woman to win an open event in WSOP history, collected $290,768 in Event #46, $1,500 Bounty No-Limit Hold’em. This is Bicknell’s second career WSOP victory, as she earned her first bracelet and collected $173,933 in the Ladies Event in 2013. ” (Source: Dalla, N., “Kristen Bicknell Becomes First Female Gold Bracelet Winner Of 2016 WSOP,” World Series of Poker web site, June 30, 2016; http://www.wsop.com/news/2016/Jun/7838/KRISTEN-BICKNELL-BECOMES-FIRST-FEMALE-GOLD-BRACELET-WINNER-OF-2016-WSOP.html.)
Sacks explains that even though Bicknell only plays poker recreationally, her winnings are considered income by the Internal Revenue Service and, as a result, are subject to a 30% withholding tax; in this case, the IRS withheld $52,180. Fortunately, there is a way for Canadians to get all or a portion of their gaming withholding tax back because Canada has signed a U.S. tax treaty.
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.
“RMS has successfully completed the most U.S. gambling tax refunds for Canadians and other non-U.S. residents since 1998. In fact many of the top Canadian poker players turn to RMS to help them get their 30% withholding tax back.,” Sacks concludes. “We have CA designation and are certified Certified acceptance agents for filing W-7 applications. On top of that, Refund Management Services has never been refused an eligible refund. However, do note that it can take a minimum of one year for the IRS to review the claim and for RMS to receive the refund.”
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, Refund Management Services 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. RMS is a member of the Better Business Bureau and the Las Vegas Chamber of Commerce. To find out how Refund Management Services can help with U.S. gambling tax recovery, visit www.RefundManagement.com. Contact Refund Management Services toll-free from the United States and Canada at 1-888-272-5559 or email RMS at [email protected].