Tax at the WSOP

[MrWeen]

What are the tax implications for winning money if you are from Canada? Do I need to be prepared with some paperwork before I arrive?

Thanks

[[Phill]]

If memory serves Canada doesnt charge tax on gambling winnings like the UK.

Not sure if its got the same Tax agreement as the UK but if it does once you show them your passport they wont keep any of your winnings back for the IRS.

[drewjustdrew]

I was at a table with Bob Chalmers the day after he won an event. He said they withhold, but you get it back later. I guess when you file your taxes?

[actyper]

30% is withheld. Need to find a way to get it back. Something about filing a US tax return next year.

[Dadswell]

There are companies that will do the leg work for you but they keep a certain percent. You can also do it yourself and get it back. I don't think you need to wait or anything just fill out all the forms and send them in. Google is your friend for this stuff.