Serbinski Accounting Firms

I understand what needs to be done, but what if the account holder doesn't do it. What are the legal consequences to the account holder? Does the IRS take away their IRA account, pay penalties/fines, jail? I'm just curious what the consequences are.

Does anyone know the legal implications on the account holder if they are a Canadian Resident but still hold an IRA account with a US Brokerage and trades within that account actively?

In 2009 I moved from the US to Canada (i'm a Canadian Citizen). I earned both US and Canadian income that year. In the US i filed using the foreign earned income exclusion for my CDN earnings to the IRS. In Canada I only reported my Canadian earnings to the CCRA from the time I became a resident ...

I moved last year from US to Canada and will be filing a 1040 including a FEIE. Just trying to figure out how to treat my stock holdings. Two specific holdings are in question, one I purchased while living in US and sold after I moved to Canada and another I purchased while in the US but still ...

Need a further example to help with my situation.

Bought stock XYZ while resident of US on Jan 1, 2009 at $1.00.

Moved to Canada and became resident on June 1, 2009 but kept stock. Stock price was at $0.50.

On Oct 1, 2009 (resident of Canada) sold stock at $0.75.

I would file in the US a loss ...

In 09 I moved from the US to Canada (i have icnome in both countries) and I will be electing to be taxed on my world wide income and file the 1040 with a 2555 (FEIE). However I have a question regarding my state filing, do I file as a resident for the full year in my state or partial year? I assume ...