Search found 57 matches

by OttawaSenators
Wed Apr 06, 2022 10:33 am
Forum: Canada / United States Tax & Accounting
Topic: Double reporting of RSU income on both W2 and T4
Replies: 20
Views: 55618

Re: Double reporting of RSU income on both W2 and T4

No, I am not getting all of the withheld taxes back from CRA. Cdn$22K of RSU income is reported on my T4. Cdn$11K was withheld and I am getting a Cdn$6800 refund.
by OttawaSenators
Fri Apr 01, 2022 2:20 pm
Forum: Canada / United States Tax & Accounting
Topic: Double reporting of RSU income on both W2 and T4
Replies: 20
Views: 55618

Re: Double reporting of RSU income on both W2 and T4

I use MC Professional based in Alberta. I wonder what Serbinski would say about this. The non-resident part for the Canadian return depends on quite a few things including the 183 day rule. But being in Canada for over 183 days in a tax year by itself does not make you a resident. My accountant file...
by OttawaSenators
Fri Mar 18, 2022 11:00 am
Forum: Canada / United States Tax & Accounting
Topic: Double reporting of RSU income on both W2 and T4
Replies: 20
Views: 55618

Re: Double reporting of RSU income on both W2 and T4

@ND: You're talking about the cost basis of ESPP and RSU. This is not the issue at hand in this thread. We are talking about double reporting the RSU income on both W2 and T4. As a matter of fact, I did not sell any of the RSUs. The broker sold some to cover the withholding taxes for both the US and...
by OttawaSenators
Tue Mar 30, 2021 9:58 am
Forum: Canada / United States Tax & Accounting
Topic: Double reporting of RSU income on both W2 and T4
Replies: 20
Views: 55618

Re: Double reporting of RSU income on both W2 and T4

Latest update on this: my employer's stock admin has replied that the burden of adjusting the foreign income and/or applying foreign tax credit on the US tax return is upon me and my tax accountant. They are not going to issue a corrected W2, and their policy is to report the RSU income on both W2 a...
by OttawaSenators
Thu Mar 25, 2021 7:09 pm
Forum: Canada / United States Tax & Accounting
Topic: Double reporting of RSU income on both W2 and T4
Replies: 20
Views: 55618

Re: Double reporting of RSU income on both W2 and T4

nelsona wrote: > So what if you get audited. Are you going to overpay your taxes just to > avoid being audited. Exactly. I don't know why he is scaring me of an audit. We've got the documentation (Employee Stock Plan Release Confirmation) from the employer's brokerage (ETrade) that clearly shows tha...
by OttawaSenators
Tue Mar 23, 2021 3:19 pm
Forum: Canada / United States Tax & Accounting
Topic: Double reporting of RSU income on both W2 and T4
Replies: 20
Views: 55618

Re: Double reporting of RSU income on both W2 and T4

I wonder how come on one on this forum has run into this. I am quite sure some people here have been sent to foreign assignments outside the US in addition to people being transferred internally from one country to another.
by OttawaSenators
Tue Mar 23, 2021 3:16 pm
Forum: Canada / United States Tax & Accounting
Topic: Double reporting of RSU income on both W2 and T4
Replies: 20
Views: 55618

Re: Double reporting of RSU income on both W2 and T4

nelsona wrote: > Really, when you thinhg of it, you have 4 pots of income: your US wages (on > W-2), your US RSU (On W-2), your CDn RSU (on W-2 and T4), and your Cdn > wages (on T4). ALL have to go on 1040. So just dont; include the RSU > reported on your T4 on your 1040. Oh I got you! Oh yeah, that...
by OttawaSenators
Tue Mar 23, 2021 3:04 pm
Forum: Canada / United States Tax & Accounting
Topic: Double reporting of RSU income on both W2 and T4
Replies: 20
Views: 55618

Re: Double reporting of RSU income on both W2 and T4

I wish it was as simple as not including my T4 RSU on 1040. Unfortunately that is already included in Box 1 of my W2. I've found more on Intuit's website. The number of days in the foreign country also matters. It looks like my accountant needs to do some more work than just entering the numbers int...
by OttawaSenators
Tue Mar 23, 2021 2:32 pm
Forum: Canada / United States Tax & Accounting
Topic: Double reporting of RSU income on both W2 and T4
Replies: 20
Views: 55618

Re: Double reporting of RSU income on both W2 and T4

Nelsona, I think by adding it to 1116 you mean adding it to line 1 of 1116 which is the gross foreign income. In that case, it is of no use as you've mentioned. Here's what I've found on TurboTax's site: https://ttlc.intuit.com/community/taxes/discussion/re-how-to-add-foreign-income-which-is-already...
by OttawaSenators
Tue Mar 23, 2021 2:21 pm
Forum: Canada / United States Tax & Accounting
Topic: Double reporting of RSU income on both W2 and T4
Replies: 20
Views: 55618

Re: Double reporting of RSU income on both W2 and T4

I have opened a ticket with our payroll regarding this. However I highly doubt they'll issue a corrected W2 to exclude this RSU income simply because there were also US tax withholdings on it too. And the RSU stocks that were sold to cover US and Canadian taxes were also reported in brokerage's 1099...
by OttawaSenators
Tue Mar 23, 2021 1:40 pm
Forum: Canada / United States Tax & Accounting
Topic: Double reporting of RSU income on both W2 and T4
Replies: 20
Views: 55618

Double reporting of RSU income on both W2 and T4

I am a Canadian citizen and a US GC holder. In 2020, my US employer had to put me on their Canadian payroll for a short while until I returned to the US. Now time has come to file taxes. My accountant wants to file the Canadian one as non-resident. I have noticed that my RSU income has been reported...
by OttawaSenators
Mon Feb 03, 2020 11:38 am
Forum: Canada / United States Tax & Accounting
Topic: GC holder working remotely in Canada for a US employer
Replies: 11
Views: 19574

Re: GC holder working remotely in Canada for a US employer

I guess there's no point in arguing with their HR and Payroll. They say as soon as my worldwide income becomes taxable in Canada, they have to switch me over to the Canadian payroll. That sounds more like a company policy. I wonder why. I am responsible for filing taxes with Revenue Canada should I ...
by OttawaSenators
Fri Jan 31, 2020 4:20 pm
Forum: Canada / United States Tax & Accounting
Topic: GC holder working remotely in Canada for a US employer
Replies: 11
Views: 19574

Re: GC holder working remotely in Canada for a US employer

They're quoting Article 10 of the treaty as the reason why they have to transfer me over to the Canadian payroll after 183 days: "2. Notwithstanding the provisions of paragraph 1, remuneration derived by a resident of a Contracting State in respect of an employment exercised in the other Contra...
by OttawaSenators
Wed Jan 29, 2020 2:46 pm
Forum: Canada / United States Tax & Accounting
Topic: GC holder working remotely in Canada for a US employer
Replies: 11
Views: 19574

Re: GC holder working remotely in Canada for a US employer

Ok, the latest rubbish I’ve heard from the HR is: the US-Canada tax treaty does not allow them to let a US employee telecommute from Canada for more than 183 days, and not the tax code itself. They can’t even quote which section of the treaty says so. Instead they pointed me to the entire tax treaty...
by OttawaSenators
Wed Jan 29, 2020 1:42 pm
Forum: Canada / United States Tax & Accounting
Topic: GC holder working remotely in Canada for a US employer
Replies: 11
Views: 19574

Re: GC holder working remotely in Canada for a US employer

Thanks again Nelsona for the detailed explanation. The employer has a substantial presence in Canada too. I wonder why they don’t ask their Canadian HR about these tax laws. Instead, they keep bringing up the tax treaty. They also told me I needed to get a re-entry permit for stays over 6 months whi...