Search found 268 matches
- Thu Feb 09, 2012 1:59 pm
- Forum: Canada / United States Tax & Accounting
- Topic: IRS won't impose penalty on RRSP inside OVDI
- Replies: 26
- Views: 24617
- Thu Feb 09, 2012 12:20 pm
- Forum: Canada / United States Tax & Accounting
- Topic: IRS won't impose penalty on RRSP inside OVDI
- Replies: 26
- Views: 24617
Tacova, I think IRS has rejected late deferral tax election (usually they accept late filing f8891 outside OVDI). This is a bad news for all of in OVDI with RRSP. Now, if you did open your RRSP before you becoming a US taxpayer, and you have never withdrawn more than $1000 from the account each year...
- Thu Feb 09, 2012 5:32 am
- Forum: Canada / United States Tax & Accounting
- Topic: IRS won't impose penalty on RRSP inside OVDI
- Replies: 26
- Views: 24617
- Wed Feb 08, 2012 8:50 pm
- Forum: Canada / United States Tax & Accounting
- Topic: IRS won't impose penalty on RRSP inside OVDI
- Replies: 26
- Views: 24617
9100 relief is a letter to request extension of making tax deferral election. so if IRS asks to include all the income from RRSP, that means they have denied your request --- at least they should send you a letter why they won't let you to request 9100 relief. this maybe a good case for TAS to help....
- Wed Feb 08, 2012 7:35 pm
- Forum: Canada / United States Tax & Accounting
- Topic: IRS won't impose penalty on RRSP inside OVDI
- Replies: 26
- Views: 24617
- Wed Feb 08, 2012 6:22 pm
- Forum: Canada / United States Tax & Accounting
- Topic: IRS won't impose penalty on RRSP inside OVDI
- Replies: 26
- Views: 24617
- Wed Jan 18, 2012 6:49 pm
- Forum: Canada / United States Tax & Accounting
- Topic: IRS won't impose penalty on RRSP inside OVDI
- Replies: 26
- Views: 24617
- Fri Jan 13, 2012 7:04 pm
- Forum: Canada / United States Tax & Accounting
- Topic: How to report RRSP Term GIC on the FBAR and 8891
- Replies: 2
- Views: 2388
- Wed Jan 11, 2012 1:01 pm
- Forum: Canada / United States Tax & Accounting
- Topic: IRS won't impose penalty on RRSP inside OVDI
- Replies: 26
- Views: 24617
IRS won't impose penalty on RRSP inside OVDI
Just an update,
IRS won't impose base penalty on RRSP inside OVDI. The past rumor about RRSP penalty is 100% rumor.
Again, Nelsona is so right about RRSP back filing.
IRS won't impose base penalty on RRSP inside OVDI. The past rumor about RRSP penalty is 100% rumor.
Again, Nelsona is so right about RRSP back filing.
- Sat Dec 17, 2011 1:16 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Converting RRSP to RIFF for US Resident
- Replies: 18
- Views: 16039
I also have TD RRSP in TD/CanTrust Mutual fund. I would like to know how to convert them to RRIF. If it has to be done in person, then it may be worth the effort to take a trip there. 25% vs 15% is a big discount. After taking a hit in OVDI (some said IRS would impose 25% penalty on RRSP inside OVDI...
- Fri Dec 16, 2011 9:34 pm
- Forum: Canada / United States Tax & Accounting
- Topic: new guidance on foreign asset
- Replies: 6
- Views: 4771
- Fri Dec 16, 2011 9:24 pm
- Forum: Canada / United States Tax & Accounting
- Topic: new guidance on foreign asset
- Replies: 6
- Views: 4771
i guess assets (anything with value) will be included. this might be an extansion of the way IRS is dealing with OVDI. Can you see how similar they are ? such 75K peak value (which is a thresshold for 12.5% and 25% penalty) ? I think land, cash, art work anything that has market value will be includ...
- Fri Dec 16, 2011 3:20 pm
- Forum: Canada / United States Tax & Accounting
- Topic: transfer overseas bank accounts to US
- Replies: 10
- Views: 5065
yes, I did ask my Canadian bank to convert CAN$ to US$ and then send me a draft. It seems to me that it is always a better deal to buy foreign currency with the currency that circulates in the country. Since Can$ is not circulating here in US, so if you use CAN$ to buy US$ here, this is a disadvanta...
- Fri Dec 16, 2011 1:29 pm
- Forum: Canada / United States Tax & Accounting
- Topic: transfer overseas bank accounts to US
- Replies: 10
- Views: 5065
- Thu Dec 15, 2011 11:17 am
- Forum: Canada / United States Tax & Accounting
- Topic: US Eases Failure to File and FBAR penalties
- Replies: 11
- Views: 14370