IRS update

[Katdancer]

Good Morning,

We actually had a phone call from the Assistant Controller at the Wynn Las Vegas yesterday. She is absolutely livid about what the IRS is claiming. She gave me a rundown on how they conduct business concerning the filing they have to do with the IRS. She was very kind and took the time to go through everything and answer my questions.

Jan, 31 – they file the W2G electronically with the IRS
Feb, 28 Paper filing of 1042 – S To the IRS
Mar, 15 submit W2G and 1042 – S to the IRS electronically

The Wynn receives a verification notice form the IRS within 5 days after the info is submitted. They are also provided a summary from the IRS. She explained to me that if they do not file….THEY ARE FINED and can also LOSE their gaming licence. She of course would also lose her job. They have sent us more documentation that the IRS must accept. She has even given me permission to give the IRS her personal phone number at the Wynn if they deny our information once again. What the IRS is pulling on Canadians is total bull and they try something new every 2 years.

The Wynn has also emailed us 3 new documents which we will be resending to the IRS. We will keep you posted on the next round of our battle with the IRS.

[clemi]

Hoping it works this time!

[Elf70]

It's very nice to hear that the Wynn is so responsive. Their customer service is amazing. I hope this solves your problem with the IRS. The IRS is just awful!


Sent from my iPad using Tapatalk

[Katdancer]

Hoping it works this time!

Us too! The whole thing is just a big headache.

[twinslotaddicts]

Gees what an effing headache for you all!!! You'd think they would have made it easier for our Northern neighbors by now to get back their casino held bullshit taxes since they certainly know they don't exist in Canada but then it wouldn't be the greedy IRS. I guess there are many people that just don't want to bother with all that's required to fight so who knows how much money that rightfully should be going back to people actually gets kept. Sorry you and all our Canadian Jokers have to deal with this.

Ang

[RiverSong]

thanks for the update, Wynn does it right! So sorry you're going through all of this.

[slotjunkie]

so let me get this straight. If our Canadian neighbor comes down and wins a major handpay; say one of the 6 figure kind; the IRS takes it's 30% and good luck in getting it back? If they know it has to be returned to the player, why do they take it to begin with?

[slotmanjack]

At least the ball is rolling again.

[treyster]

There's a host of reasons the IRS should be reduced/eliminated. Add this to the list

[Evoni]

Good luck, so sorry you are having to go through all this to get your money that should have never been withheld in the first place!

[Katdancer]

so let me get this straight. If our Canadian neighbor comes down and wins a major handpay; say one of the 6 figure kind; the IRS takes it's 30% and good luck in getting it back? If they know it has to be returned to the player, why do they take it to begin with?

It is the law....I guess. Canada and the US have a treaty that any tax withheld on gambling/lotto wins is supposed to be returned when you file...So now we start the process again with all the info supplied once again by the Wynn. They tax anything over $1200.00 with the 30%. They are dinging us for a little over $1000.00 so far - I had 5 handpays in 2014....just waiting for more letters from them of refusal for my tax return.

[Katdancer]

Good luck, so sorry you are having to go through all this to get your money that should have never been withheld in the first place!

I know...but hey - no more handpays - just wins under that mark and we do not have to deal with it!

[Katdancer]

There's a host of reasons the IRS should be reduced/eliminated. Add this to the list

Along with the CRA!

[owls]

I hate that you are going through this.
I can tell you this from personal experience, the IRS does not care what a persons problems are. They apply outrageous penalties which are compounded daily. Sorry POS.

[Nhcris]

Wow, I must have missed the beginning of this saga, and I am really sorry for the hoops you are going through to claim what is rightfully yours. It's just shameful. I am happy to hear that the Wynn is being so helpful, though. Hopefully this new documentation will get it done.

[inaminute]

The IRS simply wants to help taxpayers be compliant. That's all.

[ineedajackpot]

I went back and read your original post. This is wrong on so many levels. They should not have withheld the money in the first place. Now they make you jump through hoops to get what was yours in the first place. I am sorry this is happening to you and others. It is so wrong, shame on the IRS.

[owls]

I found this article interesting. I never realized the IRS considered comps as winnings..holy cow.

http://www.reviewjournal.com/business/casinos-gaming/features/taxlaws.html

[clemi]

Owls interesting article, I too didn't realize comps were considered winnings...

[Jackpot]

*Here's one of the questions from the article that may help. "

I'm a Canadian citizen who likes to make occasional trips to casinos in the U.S. Recently, I won $12,856 at keno. The casino withheld 30 percent of my winnings for U.S. income tax, and didn't allow for the fact that I was down $300 on the day and had the tickets to prove it. Someone at the casino told me that he thought the money was recoverable for Canadians once they returned to Canada. Is this true?

A * If this was in 1998 or later, you're in luck. As a result of recent changes in the tax treaty between the U.S. and Canada, Canadian citizens who won enough to have the witholding of tax on their winnings, may file a U.S. Non-Resident Tax Return on which they can deduct U.S. gambling losses from their reported U.S. winnings and potentially get a refund for the full amount withheld, if you have as much or more in losses than winnings. If your U.S. losses are less than your winnings, you will get a partial refund.