Search found 37 matches
- Sat Jun 04, 2022 10:04 am
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian citizen inherited a Roth and Traditional IRA.
- Replies: 3
- Views: 2943
Re: Canadian citizen inherited a Roth and Traditional IRA.
Thank you for the clarification! If I cash out the ROTH IRA this year do I still need to file an election to the Competent Authority Services Division this year to make it tax free?
- Fri Jun 03, 2022 5:05 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian citizen inherited a Roth and Traditional IRA.
- Replies: 3
- Views: 2943
Canadian citizen inherited a Roth and Traditional IRA.
I'm 74 years old and I have just received inherited IRAs from My mother. A Roth and a traditional IRA. Both IRAs are in stocks. When I sell the stock and bring the money to Canada I think I will have withholding tax of 15% on the traditional IRA and maybe I will owe tax here in Canada. I think the R...
- Wed Nov 13, 2013 10:15 am
- Forum: Canada / United States Tax & Accounting
- Topic: Is quiet disclosure still recommended?
- Replies: 5
- Views: 3553
- Fri Nov 08, 2013 7:08 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Is quiet disclosure still recommended?
- Replies: 5
- Views: 3553
Is quiet disclosure still recommended?
I know quiet disclosure was recommended here in the past...has anything changed with that method of getting compliant? I have a friend that is a U.S. Canadian dual and has lived in Canada since the age of 9...She wants to get compliant so that She can renounce next year.She has not worked in the las...
- Fri Jul 05, 2013 3:18 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Has FBAR reporting amounts changed?
- Replies: 2
- Views: 2390
- Fri Jul 05, 2013 10:13 am
- Forum: Canada / United States Tax & Accounting
- Topic: Has FBAR reporting amounts changed?
- Replies: 2
- Views: 2390
Has FBAR reporting amounts changed?
Does this mean that if a person who's "tax homes" are in a foreign country that their obligation to file FBAR has been raised to $50,000 from $10,000? $50,000 on the last day of the tax year or $75,000 at any time during the tax year (higher threshold amounts apply to married individuals f...
- Fri Jun 22, 2012 10:29 pm
- Forum: Canada / United States Tax & Accounting
- Topic: FBAR
- Replies: 4
- Views: 3716
- Mon Jun 18, 2012 11:26 am
- Forum: Canada / United States Tax & Accounting
- Topic: I have received my certificate of loss of nationality
- Replies: 3
- Views: 2750
- Mon Jun 18, 2012 11:09 am
- Forum: Canada / United States Tax & Accounting
- Topic: I have received my certificate of loss of nationality
- Replies: 3
- Views: 2750
I have received my certificate of loss of nationality
Just so people that are in the same situation as me can know... I was a born U.S.citezen and became a Canadian in 1971 ...I went to a U.S. consulate last year and applied for a CLN. It took 9 months for them to send it registered mail.
- Mon May 21, 2012 5:21 pm
- Forum: Canada / United States Tax & Accounting
- Topic: How to contact IRS after their letter indicating 3520 error?
- Replies: 24
- Views: 17982
we use yahoo messenger with voice to make 1-800 calls to the U.S...download the program for a PC... it costs $10 to charge the account and that gives you about 500 minutes of calling to anywhere in North America....if you have a newer Iphone or Ipad download the free Magicjack APP and you can make 1...
- Mon May 21, 2012 5:04 pm
- Forum: Canada / United States Tax & Accounting
- Topic: when to file the 8854 if you have not received a LOC?
- Replies: 2
- Views: 2719
Thank you very much for the reply. After much searching on the Internet and wading through the instructions for 8854 and other publications we ended up handling it exactly as you advise.....her 1040 with 8854,her 8854 to the state dept.and her FBARS are all in the mail ...hopefully for the last time...
- Tue May 08, 2012 1:52 pm
- Forum: Canada / United States Tax & Accounting
- Topic: when to file the 8854 if you have not received a LOC?
- Replies: 2
- Views: 2719
when to file the 8854 if you have not received a LOC?
last year after we found out about the filing requirements of dual citizens living in Canada my wife filed 6 years of U.S. taxes and FBARS ...she has yet to hear back from the IRS ...this i understand is a good thing.. my wife last year renounced her U.S. citizenship. Now it's time to file her last ...
- Fri Dec 09, 2011 9:07 pm
- Forum: Canada / United States Tax & Accounting
- Topic: GREAT NEWS FOR U.S. CITIZENS LIVING IN CANADA
- Replies: 2
- Views: 2780
a couple of more wrinkles in this mess... http://www.theglobeandmail.com/globe-investor/personal-finance/taxes/irs-hints-at-leniency-for-americans-living-in-canada/article2265020/ http://www.irs.gov/newsroom/article/0,,id=250788,00.html after reading these articles...should a cover letter not go in ...
- Sat Dec 03, 2011 1:21 am
- Forum: Canada / United States Tax & Accounting
- Topic: Relief?
- Replies: 5
- Views: 3829
- Sat Dec 03, 2011 12:03 am
- Forum: Canada / United States Tax & Accounting
- Topic: GREAT NEWS FOR U.S. CITIZENS LIVING IN CANADA
- Replies: 2
- Views: 2780
GREAT NEWS FOR U.S. CITIZENS LIVING IN CANADA
:lol: Great news!!!! HOPE THIS IS NOT PREMATURE BUT THIS IS FROM TONIGHTS GLOBE AND MAIL.... http://www.theglobeandmail.com/globe-in ... le2257395/