Taxes And IRS

US Tax Recovery on Your Casino Taxes

Are you a Canadian gambler? Are you a Canadian gambler who likes to gamble at US casinos? A lot of Canadian gamblers love to patronize American casinos. However, you must… more

December 5, 2013: Posted in Taxes And IRS No Comments

Taxes and Gambling

Get the Form Whenever you win a “qualifying amount” at a casino, they are legally required to report it to the IRS. Therefore, they will collect your social security number… more

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Gambling As a Business Activity

The Internal Revenue Service requires the reporting of gambling winnings as income. Gambling losses are tax deductible for taxpayers who itemize deductions. However, the deduction for gambling losses is limited… more

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New Tax Rules Concerning Gambling Activities

The Internal Revenue Service (IRS) has historically required that gambling winnings and gambling losses be separately accounted for. The reason for this has to do with the way gambling losses… more

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How to Avoid Online, Internet and Sports Gambling Tax

So you won some money at gambling, and you want to know if you have to pay the Government, income taxes on your winnings. Well, the short answer to that… more

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Claiming Gambling Losses on Your Tax Return

If you make any winnings in the gambling, you need to report the full amount of the winnings for the year on line 21 on Form 1040. You can deduct… more

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Taxation of Gambling Winnings

Do you enjoy gambling? Many people find it enjoyable and relaxing to go to a casino and spend time at the slots or tables. A big problem we see as… more

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Don’t Let Your Big Prize Turn Into an Even Bigger Tax Debt

Jackpot! If you’ve got a gambling spirit, chances are you’ve probably invested a good amount of time into casinos. But if you win big in Vegas, don’t let the thrill… more

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Lady Luck Was on Your Side – Now You Owe IRS and Uncle Sam

Winning Big: Gambling is addictive. If you took a trip and won some cash, you might think you’re on easy street. But you’ll be in from a rude awakening if… more

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Casino Tax Refund

A win in the lotteries, casinos, gaming tournaments, horse and dog racing, game shows, keno and other wins in the USA can make you ecstatic but usually this feeling is… more

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