Serbinski Accounting Firms

Hi there, I'm seeking advice on a deemed disposition mess. In 2008, my husband and I are Canadian residents and left Canada for the US and filed a Deemed Disposition (T1243) for all Canadian investments. Since this was the beginning of the financial crash, we had a small taxable capital loss that ye...

According to this, I may not need the explanation as you suggested: http://www.irs.gov/pub/irs-drop/n-10-23.pdf

But I have to write something since they want an explanation for why it's late. I don't think I"m allowed to just file. Also, one article I came across suggests there might be an extension till 2011: Notice 2010-23: The IRS Notice 2010-23 provides the following administrative relief to certain ...

Don't kill me, but does this sounds like a reasonable explanation for filing this late? Dear Sir/Madam, We are filing a late FBAR statement for the 2009 tax year. We filed a timely FBAR statement for 2008. We are Canadian citizens who left the United States to return home to Canada in July 2009. It ...

Yes, I will be filing it tomorrow as soon as I've gathered all the information. I'm just wondering if there's anything I can do to ask for leniency in penalties for filing late.

Listen, I'm sorry for sounding frantic. This move has been very stressful and remembering the TDF form late is absolutely a nightmare.

will they still penalize me? Any advice?

PS: I do want to double check to see if you have to file this form if you've left the country?

I have a very stupid situation. Last year, I correctly filed my US taxes including the TDF form declaring all our foreign accounts. This year, we moved back to Canada but filed as full year residents. I had planned to file the TDF in June, however, we moved for a job at the last minute and in the pr...

Thanks! I did see that but wasn't sure if they'd specifically mention not mailing in foreign slips.

Sorry guys, this question will get me banned from nelsona I know, but I can't for the life of me remember if last year I submitted my T3/T5 Canadian slips to the IRS. I'm guessing we don't but could someone confirm? Thank you!

hmm i didn't think we could make RRSP contributions as non-residents. so we didn't for last year.

Thanks for that! It would definitely solve the 330 day issue.

Ianman2000, I am in a similar situation. I returned to Canada and I want to use form 2555 to exclude my canadian income in the US, but don't meet the PPT for 2009. Did you end up deciding to wait to meet the 330 days before filing?

Thanks! I'll go with that for canada. For the US I"m using the Dept of Agriculture...gives a more favourable rate and is acceptable for the IRS apparently. Thanks Nelsona!