According to an existing law in the United States, casino winnings will be subjected to thirty percent tax if it is won by a foreigner. Thirty per cent of what is indicated in your form 1042-s will be deducted instantly when you ask for your winnings at the end regardless if the deduction will actually cause losses to you. That is why, it is important that you know ways on how to get a refund because thirty per cent of your money is a big amount! There is a process that you need to follow and there are some people that can help you in this endeavour.
According to the US Canada Tax Treaty, Canadians are exempted from this rule. They can ask for a full refund upon verification of their nationality. There are also other foreigners that are exempted in this rule so they can take home their full casino winnings. Many people suffer from loss because of the withholding tax that they need to pay. But, there are people who can help you refund the tax in a way that is convenient for you. You will just have to give them a copy of your form 1042-s and they will do the rest of the job.
Upon getting your winnings and subtracting the tax indoslot that you will pay at first, you need to find first people who can help you get a refund if you do not have time to process it yourself. It is important to do so because it will give you more chance to enjoy your casino winnings. But, it is more important to ensure that the people you are going to hire are really expert in doing this job. Remember, your form 1042-s is your only document showing how much you have to get in the refund.
You can ask the staff of the casino where you’re playing for the list of their suggested agencies or individuals who can help you with your endeavor. Just tell them your case and they will give you contacts of people who can help you get a refund of your taxes in your casino winnings. These people specialized in this field and they have their own way of making the process faster and more efficient. Although they will charge you minimum amount for their service, rest assured that it’s worth every penny as you can say goodbye to stress and time-consuming task. You can trust them that they will ensure your form 1042-s is safe with them and at the end, you will receive your refund without doing the legwork.