Gamble and get Tax refunds

Gamble and get Tax refunds

If you have been to the United States within the past three years and have won any quick bucks gambling, then there is good news for you, you could be eligible for a tax refund.

Many people travel to the US each year and quiet a lot of them gamble in the numerous casinos available in the country especially in places like Las Vegas, Reno and even Atlantic City but only a handful of them know that the money that had been taken from them as tax, is refunded by the Internal Revenue Service. According to the US laws any person whether a resident or a visitor, has to pay tax if they have won over $1200 in the casino.

While the law states that you are entitled to get a tax refund if you are a non US resident and have won the money within the past three years, but it can be very mystifying for those who are not well conversant with the laws and regulations. You would first of all need to have an Individual Taxpayer Identification Number (ITIN) and then you would need to submit W7 form to IRS along with some documents such as Foreign driver’s license, Foreign voter’s identity card, Visa as proof of identity and foreign status. You can get up to 30 percent of the money you won. It can take several weeks before you finally get your money back as the process and the procedures involving the return can be very lengthy. If you do not want to go through all these hassles but still need the tax refund then contact any of the numerous agencies that are available who would do the job on your behalf.

So the next time you gamble in US don’t forget to get the tax refund.