Serbinski Accounting Firms

Thank you for the clarification! If I cash out the ROTH IRA this year do I still need to file an election to the Competent Authority Services Division this year to make it tax free?

I'm 74 years old and I have just received inherited IRAs from My mother. A Roth and a traditional IRA. Both IRAs are in stocks. When I sell the stock and bring the money to Canada I think I will have withholding tax of 15% on the traditional IRA and maybe I will owe tax here in Canada. I think the R...

Thank you very much for the replies....I'm passing this info off to my friend.
Nelsona...thank you for your help you were a Godsend to us in our time of need!

I know quiet disclosure was recommended here in the past...has anything changed with that method of getting compliant? I have a friend that is a U.S. Canadian dual and has lived in Canada since the age of 9...She wants to get compliant so that She can renounce next year.She has not worked in the las...

I'm sorry I should have done more reading before posting...Thanks

Does this mean that if a person who's "tax homes" are in a foreign country that their obligation to file FBAR has been raised to $50,000 from $10,000? $50,000 on the last day of the tax year or $75,000 at any time during the tax year (higher threshold amounts apply to married individuals f...

send it to the right address..we sent our fbars registered mail to the regular mail box # by mistake...our fbars disappeared and were never delivered or returned to us.

I will post it on the isaak brock site...I should have also said that the CLN was dated to the 1971 date that i became a Canadian.

Just so people that are in the same situation as me can know... I was a born U.S.citezen and became a Canadian in 1971 ...I went to a U.S. consulate last year and applied for a CLN. It took 9 months for them to send it registered mail.

we use yahoo messenger with voice to make 1-800 calls to the U.S...download the program for a PC... it costs $10 to charge the account and that gives you about 500 minutes of calling to anywhere in North America....if you have a newer Iphone or Ipad download the free Magicjack APP and you can make 1...

Thank you very much for the reply. After much searching on the Internet and wading through the instructions for 8854 and other publications we ended up handling it exactly as you advise.....her 1040 with 8854,her 8854 to the state dept.and her FBARS are all in the mail ...hopefully for the last time...

last year after we found out about the filing requirements of dual citizens living in Canada my wife filed 6 years of U.S. taxes and FBARS ...she has yet to hear back from the IRS ...this i understand is a good thing.. my wife last year renounced her U.S. citizenship. Now it's time to file her last ...

a couple of more wrinkles in this mess... http://www.theglobeandmail.com/globe-investor/personal-finance/taxes/irs-hints-at-leniency-for-americans-living-in-canada/article2265020/ http://www.irs.gov/newsroom/article/0,,id=250788,00.html after reading these articles...should a cover letter not go in ...

sorry i double posted the link to the Globe and Mail article before i read your post..but i was so happy about this turn of events ..i just wanted to share it!
and a big thanks to nelsona again for helping us get through this very trying event in our lives...oldgringo

:lol: Great news!!!! HOPE THIS IS NOT PREMATURE BUT THIS IS FROM TONIGHTS GLOBE AND MAIL.... http://www.theglobeandmail.com/globe-in ... le2257395/