1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.
  2. Vegas Fanatics wrist bands are here! Check out this thread for details: Vegas Fanatics Wrist Bands!
    Dismiss Notice

Question about filing for my tax refund through a Company.

Discussion in 'Off Topic' started by Pleasemum, Aug 9, 2017.

  1. Pleasemum

    Pleasemum Platinum
    VIP Pledge Member Founding Fanatic

    Messages:
    1,090
    Likes Received:
    2,813
    Player's Clubs:
    MLife, Identity
    I have been researching companies to apply for my ITIN and my first US tax refund for the 2017 year - I have a bit of time and I am hoping to have more slips - I have 2 so far!!

    One company was pretty clear that the tax return cheque is in their name. They then take their fee from here and return the remainder to me. Is that normal? My radar is telling me no.

    The other companies have not been clear on this question so I may ask them straight out. I would rather the cheque in my name.

    I figure I can try to do the returns myself in future but not the first one anyway.

    Am I on track with being reluctant to choose a company where the cheque is directed to them? Is this normal?
     
  2. Texas Steph

    Texas Steph I think I'm addicted to Vegas...
    VIP Pledge Member Founding Fanatic

    Messages:
    3,539
    Likes Received:
    17,598
    I hope people that are familiar with your situation post a good answer for you, because it doesn't sound "normal" to me.
    I would think you could find someone to help with the forms, like an accountant, who would charge a fee up front and THEN you would submit all paperwork and wait for a refund check to arrive to your address, in your name. But again, idk...
     
    Pleasemum and momnkid like this.
  3. newmans

    newmans Mayflower Fury
    Founding Fanatic

    Messages:
    2,362
    Likes Received:
    6,473
    Honestly, the process is not difficult. I filed for an ITIN along with my return. The IRS website provides very good guidelines. My understanding is most companies that will file for you, also charge 20% of your refund.
     
    Pleasemum and momnkid like this.
  4. Pleasemum

    Pleasemum Platinum
    VIP Pledge Member Founding Fanatic

    Messages:
    1,090
    Likes Received:
    2,813
    Player's Clubs:
    MLife, Identity
    Thank you for the feedback. My husband says the same thing....we may give it a whirl....although both of us are lacking in this area....we did glean some really good information off the other posts.

    We did ask the accountant that did our Canadian return if they can do the US return but they declined.
     
  5. sparkydog

    sparkydog Palladium
    Founding Fanatic

    Messages:
    2,114
    Likes Received:
    3,223
    I used UStaxrecovery.com for my first one. They were very good to deal with and took their $250 fee for first slip (I only had one) and mailed me check for difference. I had someone named Sonepheth who was excellent. With that said seeing how easy the process was I wished I did it myself and now that I know how easy it is I do my own and have had no issues.
     
    Pleasemum likes this.
  6. sparkydog

    sparkydog Palladium
    Founding Fanatic

    Messages:
    2,114
    Likes Received:
    3,223
    Should mention there was no additional charge for ITIN form or anything else just a solid deduction of $250
     
  7. Pleasemum

    Pleasemum Platinum
    VIP Pledge Member Founding Fanatic

    Messages:
    1,090
    Likes Received:
    2,813
    Player's Clubs:
    MLife, Identity
    That's the one!! Good to know someone on here used them with success. I might do this myself given the feedback from both you and Newman. Thanks!!
     
  8. VegasChic

    VegasChic Buffalo Huntress
    Staff Member

    Messages:
    6,072
    Likes Received:
    12,916
    Player's Clubs:
    Club Grazie - Platinum
    FWIW, there are so few lines that need completion, I'm going to list out how I completed mine- really save yourself the 20%. Once I completed my initial tax return a few years ago I just hung onto a copy and have used it as a guide for future returns. Although I'm no specialist or US tax accountant, this is exactly how I have complete mine and have had no issues concerning how it was completed and have received all returns. ***This has been my experience in completing having losses greater than all wins for the year, and nothing other than the gambling to report***

    1) Print off the ITIN application, complete it. This will be be attached to the front of your return and mailed to the ITIN place. When they are done doing what they need to, they will pass the rest of the return to the right department. This ITIN paperwork only has to be completed once.

    2) The Return- I just print off from the IRS Form 1040NR, ensure it is for correct year.

    Page 1

    - complete the top part...name address etc.

    Line 54- (Other Taxes) Tax on income not effectively........entered 0

    Line 61- (Other Taxes) Add lines 63-60 TOTAL TAX........entered 0

    Page 2

    Line 62d (Payments) - entered the amount I paid in tax on my hand pays.

    Line 71 (Payments) - Add lines 62a-70...total payments......entered again the amount of tax paid, same as 62d


    Line 72 (Refund) - If line 71 is larger than 61....overpayment.....entered again the amount of tax paid, same as 62d

    Line 73a (Refund) - Amount you want refunded...........entered again the amount of tax paid, same as 62d

    Sign Page.

    Nothing for Page 3.....errr, I just don't have a page 3 in my records, haha, so likely means it didn't apply.

    Page 4 (Schedule NEC)

    Line 10 a- winnings- total amount of winnings (coin out)

    Line 10b - losses - total amount of losses (coin in) as per your personal records (i.e. win loss statements?)

    Line 10c- take difference between the two. If you lost more than you won, then just enter 0.

    Line 13- re-enter amount from 10C.....

    Line 14- presuming loss was greater than win, again enter 0.

    Line 15- total that section, again if losses greater than wins, the number will be 0. This is where the calculation came for Page 1, Line 54.

    Page 5

    Complete the questions. Regardless if you have someone else complete return, you would still have to complete this section for them.

    At this point, I simply attach my 1042-s, and for ease, I also add copies of my win loss statements. I understand that these alone are not adequate proof in claiming losses, but figure it can't hurt.

    You can decide if you want to pay the % somewhere else, but hope this makes the paperwork less intimidating so you can save the $ and do it on your own! Again, no expert, but it's how I've done mine the last 3 years and have never been contacted that the paperwork wasn't correct. The year you initially apply for the ITIN it will take longer to get the return since its hung up in that department first. Good luck!

    @BFF - as requested, I know you wanted these details


     
  9. Pleasemum

    Pleasemum Platinum
    VIP Pledge Member Founding Fanatic

    Messages:
    1,090
    Likes Received:
    2,813
    Player's Clubs:
    MLife, Identity
    OMG - "US TAX Return Guide for Canadian Dummies". Love it.

    Thank you for doing this VegasChic - huge help. I am hoping that at Fallapalozza I will add a couple more Tax Slips for my 2017 Collection. Looking forward to meeting up again!!
     
    VegasChic likes this.
  10. sparkydog

    sparkydog Palladium
    Founding Fanatic

    Messages:
    2,114
    Likes Received:
    3,223
    I used @VegasChic guide for dummies and that's what got me away from using the tax recovery company....it was so easy I kept thinking there must be more to it but there wasn't.....have to add I got it so fast where I waited a month longer at least when I used the tax recovery. You can do it!!!
     
Loading...

Share This Page

  • About Us

    Vegas Fanatics was created from the vision of two Vegas enthusiasts to form a Vegas focused message board where we can feature what we believe are the most valued benefits of forum membership!


    Our mission is to connect Vegas lovers to relevant information such as trip reports, gambling information, reviews, and other experiences in a socially engaging way!


    © Chic Monkey Media, Inc. 2016-2018