Search found 16 matches
- Sun Jan 02, 2022 1:50 am
- Forum: Canada / United States Tax & Accounting
- Topic: Get cp-15 for year 2019 resp
- Replies: 7
- Views: 6750
Re: Get cp-15 for year 2019 resp
calvin_g wrote: > cqhg, thank you! I saved that number in case I need to use it in the future. The form > 843 took a year and multiple phone calls with them. A lot of nasty letters from the > collection department during the process. How did you find out that number? > > cqhg wrote: > > snowbird wro...
- Mon Dec 20, 2021 9:49 pm
- Forum: Canada / United States Tax & Accounting
- Topic: IRS threatening fine letter for TFSA 3520 error
- Replies: 9
- Views: 4219
Re: IRS threatening fine letter for TFSA 3520 error
echo wrote: > Thank you cqhg for giving such detailed instruction! Greatly appreciated! > I took a look at the "AUTHORIZATION OF AGENT" form. I'm not sure > if TD and Tangerine are willing to sign these forms as trustee? They just > confirmed again to me my accounts are only personal depos...
- Mon Dec 20, 2021 2:28 pm
- Forum: Canada / United States Tax & Accounting
- Topic: IRS threatening fine letter for TFSA 3520 error
- Replies: 9
- Views: 4219
Re: IRS threatening fine letter for TFSA 3520 error
echo wrote: > Can somebody provide some input? > I followed the post by hapless years ago to do the forms. I know some has > chosen "yes" to line 3 and listed themselves as "US" > agent. But for years I have chosen "no" to "US agent" > question, was wondering ...
- Mon Dec 20, 2021 2:14 pm
- Forum: Canada / United States Tax & Accounting
- Topic: IRS threatening fine letter for TFSA 3520 error
- Replies: 9
- Views: 4219
Re: IRS threatening fine letter for TFSA 3520 error
echo wrote: > Can somebody provide some input? > I followed the post by hapless years ago to do the forms. I know some has > chosen "yes" to line 3 and listed themselves as "US" > agent. But for years I have chosen "no" to "US agent" > question, was wondering ...
- Sat Nov 27, 2021 12:07 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Get cp-15 for year 2019 resp
- Replies: 7
- Views: 6750
Re: Get cp-15 for year 2019 resp
snowbird wrote: > It just stated under sec 6677 fail to file form 3520-A, no detail reason. > How you get the case solved, by appeal letter, or form 843? file form 843 is ok and waiting time is longer. you can call IRS international dept 267-941-1000 asking them to remove your penalty according to p...
- Tue Sep 01, 2020 12:51 am
- Forum: Canada / United States Tax & Accounting
- Topic: Ending 3520/3520A for RESP
- Replies: 4
- Views: 2987
Re: Ending 3520/3520A for RESP
I made a final return for RESP this year, the 10K penalty scares me too
- Fri Aug 28, 2020 6:10 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Still owe money to Canada CRA after T1 adjustment, do I have to pay interest?
- Replies: 6
- Views: 2987
Re: Still owe money to Canada CRA after T1 adjustment, do I have to pay interest?
nelsona wrote:
> CRA will determine and send you the bill. No point estimating.
thank you so much!
> CRA will determine and send you the bill. No point estimating.
thank you so much!
- Thu Aug 27, 2020 11:55 am
- Forum: Canada / United States Tax & Accounting
- Topic: Tax planning while leaving Canada: investments, and house
- Replies: 4
- Views: 1951
Re: Tax planning while leaving Canada: investments, and house
form T1243 has a detail for the stock and other......
also please see form t1161 when your all exceed 25k
the penalty for failing to file this form 1161 by the due date is $25 for each day you are late. There is a minimum
penalty of $100, and a maximum penalty of $2,500.
also please see form t1161 when your all exceed 25k
the penalty for failing to file this form 1161 by the due date is $25 for each day you are late. There is a minimum
penalty of $100, and a maximum penalty of $2,500.
- Thu Aug 27, 2020 11:30 am
- Forum: Canada / United States Tax & Accounting
- Topic: Still owe money to Canada CRA after T1 adjustment, do I have to pay interest?
- Replies: 6
- Views: 2987
Still owe money to Canada CRA after T1 adjustment, do I have to pay interest?
Hi, I am a Canadian working in US. For the tax year 2015 I discovered that after my T1 adjustment this year I still owe a little money ($200) to the CRA, and it's been several years(2016~2020) so I'm wondering if I need to include interest when paying back the money owed, and if I do, how I would ca...
- Thu Jul 23, 2020 10:57 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 3520/3520a
- Replies: 10
- Views: 5084
Re: 3520/3520a
Not report and you had better close this account immediately.
because the penalty is big ( $10,000)
because the penalty is big ( $10,000)
- Mon Mar 09, 2020 4:48 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Relief for RESP penalty
- Replies: 7
- Views: 5212
Re: Relief for RESP penalty
https://ustaxiq.com/claim-your-taxes-irs-rev-procedure-2020-17/ Claim your penalties back this tax season! TFSA and RESP accounts may no longer require Form 3520/3520-A reporting … March 3, 2020ustaxiq-adminArticles, Featured Yesterday, March 2, the IRS has provided a long-awaited relief from report...
- Mon Mar 09, 2020 4:38 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 3520 part II form change for 2019 (e.g. TFSA reporting)
- Replies: 6
- Views: 5374
Re: 3520 part II form change for 2019 (e.g. TFSA reporting)
Lili1234 wrote: > Have you found this code for a RESP? > > Thanks in advance I use 679, because I am a owner of Foreign trust, US person and have a US beneficiary, can directly or indirectly transfers property.... IRC § 679: A United States person who directly or indirectly transfers property to a f...
- Mon Feb 24, 2020 12:48 pm
- Forum: Canada / United States Tax & Accounting
- Topic: How to fix failure to file 3520/3520-A
- Replies: 6
- Views: 6633
Re: How to fix failure to file 3520/3520-A
---you may only report RESP / TFSA interests on 1040 Schedule B, RRSP doesn't need to be reported for tax. I think if you didn't file 3520/3520A , so just close these two accounts immediately. if you forget to send these two forms before due date, you will get the penalty 10K. 3520 due date: April 1...
- Tue Feb 18, 2020 1:52 am
- Forum: Canada / United States Tax & Accounting
- Topic: 3520 part II form change for 2019 (e.g. TFSA reporting)
- Replies: 6
- Views: 5374
Re: 3520 part II form change for 2019 (e.g. TFSA reporting)
thanks for the post. Yes, it changes on the line 20 of 3520 for 2019. Just read the instructions for 3520 2019: Line 20. Enter information regarding any person, including yourself, who is considered the owner of any portion of the trust under the rules of sections 671 through 679. Also, enter in col...
- Wed Feb 12, 2020 8:16 am
- Forum: Canada / United States Tax & Accounting
- Topic: Filing joint IRS return with US spouse - Canadian interest income?
- Replies: 2
- Views: 2638
Re: Filing joint IRS return with US spouse - Canadian interest income?
If you file jointly married, the interest outside US bank will be reported on 1040 Schedule B.