Serbinski Accounting Firms

How do people deal with the NIIT?
1. Pay it.
2. Argue it falls under the SSTA? What forms to you file?
3. Argue it is an income tax and try to claim a FTC against it? Despite Toulouse v. Commr.?
4. Try something else?

Anyone aware of an advocacy group trying to these grey areas ironed out?

Understood. Yes, I wasn't looking for the credit to provide a US refund. I was more interested in understanding how surplus credits could be potentially carried forward to future tax years. But you have answered my question. The income sourcing rules means that foreign tax on this income is not elig...

Perhaps I wasn't clear, but I end up paying no US tax on the rental property. However, I do end up paying tax on it in Canada. My question is whether that Canadian tax paid can be used for the FTC as an additional credit. Any yes, all my income from all sources is reported on both US and Canadian re...

As a dual citizen, resident of Canada, I have a US based rental property. My understanding is that rental income for this property is US sourced, therefore subject to tax in the US. However, due to deductions, no tax has ever been due in the US. This income does however, get taxed by the CRA. Can on...