Quote:
Originally Posted by Mr. Chi
Thanks for looking into this Ted.
I called the customer service line at Xpressbet after i originally posted to inquire further. The agent there insisted that winnings of Canadian customers would be subject to I.R.S. reporting and withholding.
This doesn't seem quite correct to me. Any chance she is mistaken?
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I am guessing it depends on what track the winnings occurred at. The USA has federal taxes and most states also have a state tax. If you get a 'signer', they will withhold the required amount, which in many instances can be refunded with proper filings and deductions related to your handicapping business. Even though you may be sitting at home in Alberta, in their thinking, the money was in the pool at a track in their jurisdiction and needs to be taxed.