Serbinski Accounting Firms

i think back file FBAR is 6 years, as for your RRSP, you just pick the highest balance among these 4 qrly statement for each year.

then what is wrong to ask a question ? and do i have to answer my own question, if so, that would not be a question in the first place, right ?

not that i want to argue with you knowing that you are an expert on tax issue. the headling of this discussion "Business delivering products to the US", if it were produced in Canada and delivered inside Canada, the author would not ask a question. So it is a cross border issue, and natura...

It is a lot easier to deal with INS than to IRS, that is for sure. Just ask those US expats in Canada.

Good move, and welcome back

maybe import duty ? this would be buyers' responsibility

madhoa, thanks, yes i have RRSP (never been cashed out), if it comes FBAR penalty, i will contact TAS -- hope they can help.. here is what I do not understand, OVDI FAQ says "only assets with tax issue should be included in base penalty". once late f8891 election is granted, there should b...

http://hodgen.com/questions-i-answered-for-a-reporter-about-rrsps-and-ovdi/ a recent call to OVDI hotline was told IRS will grant late f8891 tax deferral election without private ruling letter, so no tax should be reported on non-distributed RRSP income, however, 25%, 12.5% or 5% base penalty will a...

it seems to me that IRS has posted a lot this kind PLR --and all of them with approval back in time election. If there is a refusal, would IRS also post it online ?

because f8891 should go with f1040, and you are now amending for the missing years.

f8891 sent to IRS
FBAR sent to the Tresurey

just look at IRS web to find the detail.

also you should send f1040x along with f8891

you need to file FBAR and you need to file f8891, maybe you should just do all over since 2005.

my understanding is that you have to be formally into OVDI before opt out.

just wonder what the hotline will say, please keep us informed.

What I do not understand about QD is

why QD no penalty --- and VD (or OVDI) not ?

does QD mean to sneak into IRS system so it is done without IRS notice.


as matter of law/policy --- the gov should be consistent. QD or VD should have the same result.

join

UBC history professor Maurice Williams of Kelowna "
no taxation without representation"

http://blogs.vancouversun.com/2011/09/0 ... residents/

now what should he/she do ? as he has made noise already -- no point return to be quiet ?

still, opt out may be a good choice if the penalty is just too harsh to take.