If you know how to go about the Casino tax recovery process, you can get a refund for your winnings
First of all, casino tax recovery is a complicated process that requires documents, and careful assessment of your past gambling activities based on your casino winnings. Tax refunds are harder to manage and verify since you have to do tons of things and fill out a form or two.
Your eligibility for Casino tax recovery
You need to meet several criteria before you ask for tax refunds. First, you need to prove that you are not a US resident or citizen at the time you won in the casino. You also need to prove that the winnings were won within 3 years at the time you are asking for Casino tax recovery. You also need to have been issued IRS tax forms 1042-S as well as win slips. These documents are offered by the casinos at the time of winning. Ideally, you should have identification issued by the Canadian government. If you meet all the said criteria, then you are qualified for Casino tax recovery.
Before you can apply for Casino tax recovery, you have to fill out the necessary IRS tax forms and you need the individual tax identification number. The ITIN is required for those who are non-citizen or nonresident and could not get social security number. You have to send in your passport or a birth certificate. Once they are done verifying your identity, the IDs and documents are sending back to you by mail.
The Casino tax recovery process
You have to remember that the refunds are only dealt once a year so if you gambled in June this year, you can file for Casino tax recovery by January 1st. you can, however, get your ITIN while waiting so that you can already accomplish this. Also, you have to know that from the time of the refund, the IRS only includes winnings within the last 3 years. If you won the lottery 4 years ago, sadly, you cannot ask for any refund. If you applied for the Casino tax recovery with your ITIN, normally, in 2 months, you can get a confirmation for the refund. It becomes longer if you do not have your ITIN since they still have to verify your identify.
If you want to file on your own, you need to learn how to write on the IRS tax forms. They can be intimidating but if you have all the details that you need to present to them and you have proof to substantiate the details you have written, then you are more or less secure that you can get a refund. You need to present your wins and losses so that the expected return can be calculated and sent back to you.
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Filling out IRS tax forms can be tedious. If you cannot be bothered to do that for your casino tax recovery, then you can take advantage of our services so that you have guaranteed refunds.