Phil Hogan is a Canadian and US CPA working with clients throughout Canada and the US. Phil advises on cross border tax and financial planning matters. Phil can be reached at phil@beaconhillwm.ca or via telephone at 778.433.1314. You can also read more about Phil at www.Beaconhillwm.ca/team/about-phil/
Gambling US Tax Refund for Canadian
12 December 10 
Cross Border Tax Q&A Question
Hello Phil,
I recently came back from a trip to Las Vegas where I won over $20,000 in winning on a slot machine (crazy since I never really gamble). The casino withheld 30% of my winnings and gave me a 1042-s form. I heard you can help me recover some of this gambling tax.
What do I need to send you?
Thanks
XXXXXXX
Answer
Hi XXXXXXX
Yes, it’s possible that I can get you a partial refund of your casino tax withholdings. If you have any gambling losses that you incurred in 2010 you will be able to use these losses to reduce your $20,000 winnings. In order to use these losses you’ll have to have some record keeping or receipts to substantiate the losses.
Once we compile all the required information we can file a W-7 request for an ITIN and a 1040NR. In most cases the amount of tax you pay by filing the 1040NR will be less than the original 30% withholdings, hence the gambling tax refund.
You can read more about the process on our gambling tax refund page.
Give me a call at 250-661-9417 and we can discuss further.
Regards
Phil
Regards
Phil
Phil Hogan, CA
250-661-9417
This commentary reflects the personal opinions, viewpoints and analyses of the Beacon Hill Wealth Management Ltd. partner providing such comments, and should not be regarded as a description of advisory services provided by Beacon Hill Wealth Management Ltd. or performance returns of any Beacon Hill Wealth Management Ltd. client. The views reflected in the commentary are subject to change at any time without notice. Nothing in this commentary constitutes investment advice, performance data or any recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. Beacon Hill Wealth Management Ltd. manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Investments in securities involve the risk of loss. Past performance is no guarantee of future results. Any discussion about taxation is for educational purposes only and should not be viewed as professional advice. Consult your tax professional for tax advice on your particular situation.
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