There is a way to reclaim some or all of the 30% withholding tax without having to deal directly with the IRS.
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Toronto, Canada, (PRWEB) February 26, 2015
Refund Management Services (http://www.RefundManagement.com), the number-one choice for Canada’s biggest winners for U.S. gaming and casino tax refunds, is weighing in on a recent report showing international travel and tourism-related activities within the U.S. increased in November. Refund Management Services is also commenting on how, despite the strong dollar, U.S. tourism will experience a boom in overseas visitors; especially from emerging markets.
According to the U.S. Department of Commerce, international visitors to the United States spent $18.4 billion ($615 million per day) into the U.S. economy in November, a slight increase over November 2013. From January to November, international visitors spent $203.6 billion, a year-over-year increase of four percent. By 2021, it is estimated that 100 million international visitors will enter the U.S. and spend an estimated $250 billion. (Source: “Under Secretary Selig Announces International Visitors Spent $18.4 Billion in November 2014,” International Trade Administration web site, January 20, 2015; http://trade.gov/press/press-releases/2015/under-secretary-selig-announces-international-visitors-spent-18-billion-in-november-2014-012015.asp.)
“The U.S. draws the most tourists from Canada and Mexico, but the U.S. is an increasingly popular destination for tourists from developing countries such as China, India, and Brazil,” says Brooke Sacks, vice president of marketing and business development at Refund Management Services. (Source: Snyder, C., “US tourism industry to see boom in overseas visitors,” FOX News web site, January 30, 2015; http://www.foxnews.com/travel/2015/01/30/us-tourism-industry-sees-boom-in-overseas-visitors/.)
According to Sacks, the top six travel destinations for those visiting the U.S. are New York City, San Francisco, Los Angeles, Orlando, Miami, and Las Vegas. In addition to being popular travel destinations, New York State, Florida, Illinois, California, and Nevada are also well known for the various forms of gaming and gambling, including parimutuel, lotteries, commercial casinos, tribal gambling, and racetracks.
“Visitors from Canada, Mexico, China, India, and Brazil who spend time gambling in any of these top six destinations need to remember that their winnings are subject to a 30% withholding fee by the IRS,” she explains. “So if a visitor from Canada, Mexico, China, or India wins $2,000 playing the slots, keno, poker, bingo, or parimutuel in Las Vegas, they will only receive $1,400.”
“There is a way to reclaim some or all of the 30% withholding tax without having to deal directly with the IRS,” Sacks concludes. “With expertise in gaming-related laws, Refund Management Services is the number-one choice for Canadians and other non-U.S. visitors looking to get a tax refund on U.S. gaming winnings. Our track record speaks for itself, as Refund Management Services has never been refused an eligible refund.”
Founded and owned by a Canadian Chartered Accountant, Refund Management Services (RMS) is the easiest way to get money back. As registered agents of the IRS, RMS helps Canadians and other non-U.S. residents recover all or a portion of their casino and gaming taxes up to three 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. Refund Management Services is a member of the Better Business Bureau and the Las Vegas Chamber of Commerce. Contact Refund Management Services toll-free from the United States and Canada at 1-888-272-5559 or e-mail RMS at info(at)refundmanagement(dot)com.