I've only ever had one hand pay that I can clearly recall, that was some time ago, some progressive on a slot. Have read on other threads about US citizens having to take a 30% on the spot hit in tax when they hit a big pay out, is it over $10200? My questions are these; Being a UK citizen if I hit it big ( double fingers crossed ) some day ( sooner rather than later ) and the attendant gives me the usual ID and #SSN requests what should be my response? Secondly with regard to proof of citizenship, do I need to carry my passport around with me all the time I'm playing just in case of the above or will my UK drivers licence and players card be sufficient? My hotel has my passport details and driving licence on record, probably my players card details too. If a passport is compulsory to get the full pay out and avoid taxes would an "excuse me while I run back to my hotel and get it" work? would they hang on for you or must the transaction be completed at the slot machine before you leave it? Planning a return for Aug this year so would love to have the correct response down pat just in case. Who likes hitting it big then having big brother saying mmm! I'll have a piece of that thank you?:evillaugh
I needed my passport but not sure if they would allow you to go and fetch it first. I assume they would if you are playing in the hotel you are staying. You do have to tell them sometimes that they should be paying you in full. However in order to do this they do have to register somewhere or other in order to be able to do so and have the correct paperwork. Not all casinos will be able to if they haven't registered and for sure there are some that haven't. You will be fine at all the ones on The Strip but maybe some of the smaller ones wouldn't be able to do it. Not all employees know of this treaty though so they may have to be reminded! Hope you get a jackpot so you can test it out. Corinne
It's not a problem what-so-ever. I hit a hand pay with an expired DL when I lived there... they held my money until I went to the DMV and renewed it. They won't keep your winnings if you have to go back to your room to get your ID.
Ah now I understand, they need traceability for the whole win so they know what to tax you later? if you don't give them your #SSN on the spot you give it to them at some later date and you get the withheld money back. Highly unlikely your not going to turn up for a 30% wedge of a big win unless you don't want the Tax man to know you "officially exist"
if you do hit big , and i hope you do , just ask the casino for a TIN number ( tax payer identification number ) as your a uk citizen , they will know what it is and wont withold tax from your winnings
coming from the uk i knew about the non paying of tax on gambling winnings but found out the rest from this site and then googled it
I would be interested in finding a site that might have info on how much the Feds take in each year in taxes from wins that get a W2form from the casinos...
Page 28 of IRS Pub 515 Tax treaties. Gambling income of resi* dents (as defined by treaty) of the following for* eign countries is not taxable by the United States: Austria, Belgium, Bulgaria, Czech Re* public, Denmark, Finland, France, Germany, Hungary, Iceland, Ireland, Italy, Japan, Latvia, Lithuania, Luxembourg, Netherlands, Russia, Slovak Republic, Slovenia, South Africa, Spain, Sweden, Tunisia, Turkey, Ukraine, and the Uni* ted Kingdom. Gambling income of residents of Malta is taxed at 10%. Claimants must give you a Form W*8BEN (with a TIN) to claim treaty benefits on gambling income that is not effectively connected with a U.S. trade or business. See U.S. Taxpayer Identification Numbers, later, for when you can accept a Form W*8BEN without a TIN.
Thanks BeeeJay for the list - now if I can just slip an al into the spelling of one of those countries on the list, all will be sweet. Either that or get a geographically challenged slot supervisor. I have lost about $7000 to the IRS in the last 2 years along with the $50000 or so that I've contributed to Casino profit. Having money confiscated by the IRS from what is almost always a losing proposition irks me somewhat.