Serbinski Accounting Firms

Thank you very much for the answer. I don't think that I got the right answer from CRA. The agent didn't seem sure. I asked about the penalty if T1243 with 0 capital gains is not filed. According to the agent, no penalty is assessed. I don't think that there's any obligation to file this form + Sche...

Hello, I'd like to know if someone has ever been questioned by CRA if your car was listed in 1161 but as a reasonable person you didn't file T1243 with the same car on it? You don't have any capital gains on the car and no capital losses for this type of property are accepted. A closer look at T1243...

Thank you very much for the information!

Thank you, good to know! I thought that probably in several months from the date of the submission, I would be able at least to check the status of my return where I would read "accepted". If it doesn't work this way, I would probably be able to use a copy of 1040 and an amount credited by...

I haven't filed yet as the deadline is still a couple of weeks away. My intention is to proceed with FEIE as it gives me a better refund than foreign tax credits. Even if my tax return is accepted, I won't be able to confirm that this method actually works as not all the tax returns are audited. If ...

Yes, you're right, I don't think that 1040 return with 0 income will work even if you use a treaty position. And it looks heavy and unnecessary to file 3 empty returns. Moreover, a treaty non-discrimination position for absolute non-residents (without spouse), even if you add a German treaty, looks ...

A very interesting point! It would really simplify my 2023 tax return. As I understand it, the treaty doesn't change your residency. It exists to resolve conflicts when you're, by internal laws, a resident of both countries. It can also allow you to file as a resident but it doesn't give you residen...

ITIN application takes from several weeks to several months to be processed and that may become a problem if you make a mistake and are left without ITIN by the due date of your return/extension. For example, to get credits for other dependents, one of the conditions is to have an ITIN by the due da...

And ITIN for a spouse: In W 7 application for ITIN, there're several boxes to check. The box - e - /Spouse of U.S. citizen/resident alien/ seems the best option if you want to file by making the election to file a U.S. federal tax return jointly with a spouse who is a U.S. citizen or resident alien ...

TN/TD holders are not eligible for child tax credits as their kids - TD holders - have no SSN. TD/TN holders whose kids are Canadian and Mexican citizens will receive ODC - other dependents credits - for their kids if their kids satisfy two conditions : ITIN+US residency. So, we're able to add our k...

Yes, I'd love to keep it simple but sometimes simple can fail and for this situation, I'm trying to find things that will work 100% or almost. While using tax software and adding my kids as dependents, I get a very reassuring answer: Congratulations, you have a qualifying dependent! So, I will defin...

Hello Nelson, I absolutely agree with your statement that any Canadian can file as a US resident regardless of whether he is a US tax resident or a Canadian tax resident for the year. I'd like to precise that one will use different references to the same non-discrimination article of the treaty and ...

Hello, While preparing to report in some way my TFSA, I found a lot of different scenarios: Some people forget about this filing requirement without any questions from IRS from 2016; Some people don't think that TFSA is a foreign trust and thus, they don't file without any consequences; Some people ...

Hello, Just a question about possible penalties for overreporting or for reporting mistakenly in a different manner? If no penalties exist for overreporting and the reason for form 8938 and FBAR is to make sure IRS is aware of all the assets outside the US, I would report separately and together mak...

cathyn35 wrote: "I might be able to get it waived due to bad advice? My accountant is still saying it’s not a problem that I didn’t file a T1161 due to husband living in home currently." Did you manage to waive penalties? I'm approximately in the same situation and thinking now about my ne...