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Have any Canadian got their IRS refund back from 2014?

Discussion in 'Misc. Vegas Chat' started by westcanguy, Jul 17, 2015.

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  1. westcanguy

    westcanguy Low-Roller

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    I've posted on this before and I realize they are dragging their heels but was wondering if anyone has got their refund back yet. I was told a couple of months ago that I would have to wait 6 months before they processed refunds from 1040NR returns. I tried calling today and the call volume was so heavy, they wouldn't even put my call in the wait queue. I called later and they put me on hold with an anticipated wait time of at least 60 minutes.
    Updates anyone?
     
  2. touche22

    touche22 Low-Roller

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    Nope.
    Got the same notice of 6 months. I have to wait 8 as had to get the tax number first. Hopefully Sept/Oct
     
  3. sandybeachbar

    sandybeachbar Low-Roller

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    Nothing! Have two friends waiting as well. Expecting it by Christmas. They do not have to pay any interest until that time. Frustrating to say the least.
     
  4. DonnyC

    DonnyC VIP Whale

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    How much do you have to win to have to go through this process?
     
  5. gambler

    gambler VIP Whale

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    On any single jackpot over $1200, the casino will withhold 30% tax for Canadian player's (other countries have different rules).
     
  6. DonnyC

    DonnyC VIP Whale

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    And you have to file...or can you save the headache and just loose the 30% (which you will get back roughly in exchange right now - about 25%)
     
  7. gambler

    gambler VIP Whale

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    There has to be a bright side to this income tax wait.....

    My 2014 U.S tax refund of $1800 was worth $2086 Canadian at Dec. 31st.

    It's worth $2335 today.

    It's all good (if my math is correct...)
     
  8. Royal Flusher

    Royal Flusher Savvy Gambler

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    Well, if you don't want the 30% back, you don't have to file.

    I'm not sure I get the question.
     
  9. DonnyC

    DonnyC VIP Whale

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    I'l try to clarify:

    It seems like there is lot of headache in filing. Yes 30% is a bunch to have withheld...but if you are just over the $1200 then it is a lot of headache for $300.

    Because of the current exchange rate - selling $1 USD will get you $1.25 CDN - you will get back 25% on the exchange. Therefore, If I won $1200, and had $300 withheld, I might forgo the filing and just get 25% back when I change the funds back to CDN $.
     
  10. newmans

    newmans VIP Whale

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    It's a simple process......why wouldn't you file??? You need offsetting losses to get a refund (for a Canadian). I wouldn't use one of the refund services. Why pay them when you can do it yourself.
    It's a threshold of $1200 for a slot or VP win. There are different guidelines for withholding on table games.
     
  11. Vegas-TT

    Vegas-TT Tourist

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    I don't understand your logic. Forgoing the filing results in no refund and exchange rate has nothing to do with it. On a $1200 win , you let the government keep $360, and you only net $840.

    I submitted my tax return in February and still have not received my refund. In past years I received my refund within 6 weeks.
     
  12. Julie888

    Julie888 High-Roller

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    Whoever is the first to get a refund, please create a new thread so we don't miss it.

    I'll be interested to see if they are enforcing new rules that we've heard rumoured. .e.g. The ITIN has to not only to be on but also be TYPED on the W2G (wrong form but you know what I mean).
     
  13. Royal Flusher

    Royal Flusher Savvy Gambler

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    Yeah I see what you are getting at. Let's look at the numbers though.

    $1200 win x 30% = $360 withheld, $940 US kept. Using the current exchange rate, you take home $1220 CAD and change.

    If you have losses offsetting your wins for the year, you can file. If you're successful, you get an additional $360 US back, at today's exchange rate that's an additional $467 and change. (Who knows what the exchange rate will be by the time you actually get your refund though.)

    So you are looking at $1220 CAD vs. $1220 + $467 CAD = $1687 CAD.

    If you have multiple such wins in a year, or hit something like, say, a $4000 Royal, then it really adds up.

    Once you've got set up to file for one year and worked through the process, then additional filings are really easy and can be done in less than an hour. I ground out seven or eight returns this spring for QQ and I for the past few years.

    It all adds up to $10K US, or $12,980 CAD. For sure worth doing. That money will never be converted to CAD though, it will be earmarked for future degenerate savvy Vegas excursions. :beer:
     
  14. Royal Flusher

    Royal Flusher Savvy Gambler

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    Dupe post.
     
  15. DonnyC

    DonnyC VIP Whale

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    Because it doesn't seem like an easy process. People need to prove that you lost more than the off-set...how?

    And I guess if you just get one over $1,200...then I'm how worth it this is to do?

    Because it seems like it is near impossible to really submit anything that the IRS will consider as 'proof' of losses.
     
  16. newmans

    newmans VIP Whale

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    You can get a win/loss report from the casino on line. For CET, you go to your TR account online and download your win/loss report for the year.

    Easy
     
  17. Corinne

    Corinne Low-Roller

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    My friend in England is still awaiting her refund too. However I also filed a tax return at the same time (jan/Feb) and mine was a 10% withholding on a condo sale. Mine came through in May so it seems it's just gambling wins they are taking their time with.
     
  18. westcanguy

    westcanguy Low-Roller

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    That's just wrong. We need a new treaty with the US on this matter but I don't see that being too important to any government. I also don't buy the excuse from the IRS that the returns are being held up because the ITIN wasn't typed on the 1042-S as there are people who win and don't yet have an ITIN.
     
  19. Corinne

    Corinne Low-Roller

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    That's no excuse because my friend went to the U.S. Embassy and had hers all checked out before it was sent off. She was told then it would be 12 weeks max. They just keep saying now it's being sorted. She had her ITIN number through in May but no refund with it. It certainly wasn't typed in on the original tax return because she didn't have one.
     
  20. Corinne

    Corinne Low-Roller

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    I wonder if it helped that I wrote a handwritten note with it saying 'please, please, please, please can I have this refund by the middle of May because I need the money to spend in Vegas at the end of May'. Lol. I doubt they even looked at that but you never know!
     
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