Toronto, Canada, September 25, 2015 – Refund Management Services (www.RefundManagement.com), the number one choice for Canada’s biggest winners for U.S. gaming and casino tax refunds, reacts to the opening of the new Harrah’s Cherokee River Casino & Hotel opening in Murphy, North Carolina, reminding Canadians that their winnings could be subject to a 30% withholding tax.
Harrah’s Cherokee Valley River Casino & Hotel in Murphy, North Carolina is opening its doors on Monday, September 28, at 2:00 p.m. The 50,000-square-foot casino contains more than 1,000 slots and 70 traditional table games, including blackjack, three-card poker, Mississippi stud, baccarat and mini-baccarat. The new resort also features a five-outlet food court, and a 300-room, full-service hotel. The $110 million facility is owned by the Eastern Band of the Cherokee Nation while the casino will be managed by Caesar Entertainment. (Source: caesars.com, web site, https://www.caesars.com/harrahs-cherokee-valley-river)
“Harrah’s Cherokee Valley River Casino & Hotel is a welcome addition to the two other gambling destinations in the state, all owned by the Eastern Band of Cherokee Indians of North Carolina,” says Brooke Sacks, Vice President of Marketing & Business Development at Refund Management Services. “Being a popular travel destination, more than one million Canadians visit North Carolina each year. Keep in mind, Canadians and other non-U.S. tourists thinking of visiting North Carolina need to understand that if they win more than $1,200 gaming or gambling, their winnings could be subject to a 30% withholding tax.”
Significant winnings from slots, keno, poker, pari-mutuel, and bingo are considered income by the IRS and are subject to a 30% withholding tax. A $2,000 win playing keno means a payout of $1,400. The 30% withholding tax applies to the vast majority of non-U.S. visitors to the United States, including those from Australia, Canada, China, Mexico, India, New Zealand, Saudi Arabia, and Thailand.
Since Canada has signed a tax treaty with the U.S. and other international countries now might qualify for other reasons, Sacks observes that there is a way for Canadians and other non-U.S. residents to recoup some or all of their 30% gambling winnings held back by IRS. As registered agents of the IRS, the Chartered Accountants at Refund Management Services have successfully completed the most U.S. gaming tax refunds for Canadians and other non-U.S. residents since 1998.
To find out how Refund Management Services can help with U.S. gambling tax recovery, visit www.RefundManagement.com.
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 agents of the IRS, Refund Management Services (RMS) helps Canadians and other non-U.S. residents recover all or a portion of their taxes up to 3 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.