Toronto, Canada, January 30, 2015 – Refund Management Services (www.RefundManagement.com), the number-one choice of Canada’s biggest winners for U.S. gaming and casino tax refunds, is weighing in on the recent grand opening of the Hard Rock Hotel & Casino Lake Tahoe.
On Wednesday, January 28, the Hard Rock Hotel & Casino Lake Tahoe officially opened its newly renovated doors after undergoing a six-month, $60.0-million transformation. The property now features 550 rooms; several bars; five restaurants, including a 24-hour oyster bar; and a concert hall. The 25,000-square-foot casino has more than 500 slot machines and a variety of table games. (Source: “Hard Rock Hotel & Casino Lake Tahoe to celebrate grand opening this week,” The Tahoe Daily Tribune, January 27, 2015; www.tahoedailytribune.com/news/14812541-113/hard-rock-hotel-casino-lake-tahoe-to-celebrate-grand.)
“While many Canadians head down to Lake Tahoe at this time of year to enjoy some of the region’s best skiing, the opening of the Hard Rock Hotel & Casino Lake Tahoe has given tourists another reason to visit the area,” says Brooke Sacks, vice president of marketing and business development at Refund Management Services. “Canadians and other non-U.S. tourists thinking of travelling to Lake Tahoe this winter to ski or take in the area’s many casinos need to be aware that if they win more than US$1,200 gaming or gambling, their winnings could be subject to a 30% withholding tax.”
Sacks explains that winnings over $1,200 on slots, poker, the lottery, bingo, pari-mutuel (horses, dogs, etc.), and game shows are considered taxable income by the IRS. For non-U.S. tourists, these gaming winnings are taxed at 30%, so someone might win $2,000 at the slots but only walk out with $1,400.
“These rules apply to the vast majority of non-U.S. visitors to the United States, including those from Australia, China, Mexico, India, New Zealand, Saudi Arabia, Taiwan, and Thailand,” she adds. ”However, there is a way for non-U.S. residents to recoup some or all of the 30% of their gaming and gambling winnings withheld by the IRS.”
“As registered agents of the IRS, the Canadian Chartered Accountants at Refund Management Services have helped thousands of people successfully file their U.S. casino tax refunds and recoup their winnings since 1998,” Sacks concludes. “In many cases, Refund Management Services can get gambling winnings back to clients in as little as six to 15 weeks.”
To find out how Refund Management Services can help with U.S. gambling tax recovery, visit www.RefundManagment.com.