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usa tax returns

Daily Fantasy Sports from DraftKings UK.
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12345678
Dumbledore
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Joined: 13 Oct 2005, 18:26

usa tax returns

Post by 12345678 »

got this reply from DK re the current situation 'Thank you for getting back to us, we apologize for any inconvenience. Please note that DraftKings and Daily Fantasy Sports is considered a game of skill. DraftKings requires all users to provide us with a properly completed withholding certificate in the form of either an IRS Form W-9 (for US taxpayers) or W-8BEN or another appropriate Form W-8 series withholding certificate (for non-US taxpayers), as appropriate for your particular tax situation. We hope this answers your questions, if you need anything else please let us know.' a load of waffle ignoring the question and past suggestion put to them. it seems they still haven't bothered taking the simple step to obtain a uk licence as suggested, incidentally yahoo have.

therefore if you play DK games you will also need to be competent in filing us tax returns and potentially paying us taxes!

superbly unhelpful help desk lol.

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twhelan22
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Re: usa tax returns

Post by twhelan22 »

12345678 wrote: 09 Mar 2018, 13:12 got this reply from DK re the current situation 'Thank you for getting back to us, we apologize for any inconvenience. Please note that DraftKings and Daily Fantasy Sports is considered a game of skill. DraftKings requires all users to provide us with a properly completed withholding certificate in the form of either an IRS Form W-9 (for US taxpayers) or W-8BEN or another appropriate Form W-8 series withholding certificate (for non-US taxpayers), as appropriate for your particular tax situation. We hope this answers your questions, if you need anything else please let us know.' a load of waffle ignoring the question and past suggestion put to them. it seems they still haven't bothered taking the simple step to obtain a uk licence as suggested, incidentally yahoo have.

therefore if you play DK games you will also need to be competent in filing us tax returns and potentially paying us taxes!

superbly unhelpful help desk lol.
I've been playing on DK since they joined the UK market. They have a UK license, otherwise they wouldn't be operating here.

As far as taxes go, it's always confusing when they ask people to fill out the US tax forms. However, you won't have to pay any taxes as a UK DraftKings player!

From the form, "Foreign persons are subject to U.S. tax at a 30% rate on income they receive from U.S. sources".
However, the UK has a tax treaty with the US, which means that UK individuals are NOT required to pay this tax.
Because DK is classed as a gambling website in the UK as per their license, you won't have to pay UK taxes either.

Essentially DK are legally required to withhold 30% from you until they can prove that you are not required to pay US taxes. They won't take money from your account for this, but I think if you're making large withdrawals they want to make sure that all the boxes are ticked regarding taxes. Basically all you need to do is fill out the W-8BEN form for individuals; it's just your name, address, DOB and UK tax code (if you have one), then sign & date. Agree that DK customer support don't make it easy for people, but it's really quite simple and it only takes a couple of minutes once you know what you're doing. I think the form is valid for 3 years, so you won't have to worry about it that often. Certainly worth taking the time to do it if you're a high volume player anyway!

Check with DK, but I think this is the form you need to fill out:
https://www.irs.gov/pub/irs-pdf/fw8ben.pdf

Here's a link to the instructions on how to fill out the form:
https://www.irs.gov/pub/irs-pdf/iw8ben.pdf

I'm by no means an expert on this, so don't quote me on the details! As far as I know the info above is correct, but make sure to double-check it yourself.

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12345678
Dumbledore
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Joined: 13 Oct 2005, 18:26

Re: usa tax returns

Post by 12345678 »

you are correct it is an exemption form. i was completely misled on this by the hopeless desk in addition to other issues.

i gave up for a year and a half because of it but have tried to reopen recently.

it took literally days, with misinformation, unlocking and locking of the account.

the helpless desk do seem to go out of their way to foul up ;)

another player i chat with told me when they introduced geolocation testing he was constantly mucked about with his account and he couldn't quite work out whether the hopeless desk was being intentionally stupid or whether it just came naturally ;)

tbh whilst my account was allegedly sorted out yesterday it seemed that they blocked it again leaving me to get it unblocked.

it has been completely chaotic dealing with them, whether it will ever improve i have no idea.

the game isn't badly designed but centre backs are generally a waste of time. i much prefer having 11 players rather than 8 as yahoo do, unfortunately yahoo are banning uk entrants from the end of the epl.

hopefully my experience isn't typical but the only other english player i have discussed it with has had similar lengthy issues with the hopeless desk so it isn't an isolated instance.

andy

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12345678
Dumbledore
Posts: 5817
Joined: 13 Oct 2005, 18:26

Re: usa tax returns

Post by 12345678 »

by the way, don't bother filling in the download form they won't accept it, you need to do it via a link on the site.

namely one that didn't work for ages for me despite them telling me it was ok.

it felt like a miracle when their link finally worked ;)

kind of depends how much you want to play the game really. you could waste days over account issues, but if you are keen the chances are you may get there eventually!

andy

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