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If you are already going head over heals with $9.2 billion estimated betting very much a possibility for 2016 March Madness, you could be surprised by the straight 30% (Internal Revenue Service) IRS tax recovery for Canadians and non-US residents.
But, there’s a way out!
You may be aware or not, but wagering on traditional sports is only legal in Nevada out of the four states (Delaware, Montana and Oregon) that were previously grandfathered. And so, only $262 million is reckoned to be legal betting money from the estimated $9.2 billion, while the major part of it will come through unofficially.
Nevertheless, whatever your game winnings could be, even over other sporting events or the Super Bowl, you can now reclaim a portion or your entire “taxable” or “withheld” amount.
Recoup your 2016 March Madness IRS taxable winnings here : How to Get Back Your 2016 March Madness IRS Tax Recovery Winnings?