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A Note for Canadians with U.S. gambling winnings

By Steve Sherman, LL.B, CPA

Under the Canada-US Income Tax Treaty, tax withheld on US gambling winnings are now refundable. Technically, US gambling winnings may be offset by gambling losses. If your losses are equal or greater than your winnings, you will receive a refund of all the US tax withheld on your gambling winnings.

To receive the refund, you must file a US tax return. For first time filers, you will also need a US indidvidual taxpayer identification number("ITIN"). Our firm is an IRS approved acceptence agent so we can take care of all the paperwork required to get the ITIN.