Search found 8 matches

by brew99
Fri Nov 04, 2011 3:38 pm
Forum: Canada / United States Tax & Accounting
Topic: TFSA, RRSP, RESP, and which forms
Replies: 8
Views: 6340

Ok thanks nelsona, I'll pass this info on to him and see what he responds with.

Thanks,
by brew99
Fri Nov 04, 2011 1:31 pm
Forum: Canada / United States Tax & Accounting
Topic: TFSA, RRSP, RESP, and which forms
Replies: 8
Views: 6340

TFSA, RRSP, RESP, and which forms

OK, I thought I knew what i was doing, had done some research on what was required to be reported, but now my tax preparer has thrown a wrench into it for me. i have a question. 1. the tax preparer has done form 8891 for my wife's back tax returns for RRSPs, but has now informed me that i need to do...
by brew99
Fri Sep 30, 2011 3:29 pm
Forum: Canada / United States Tax & Accounting
Topic: How far back to file FBARs
Replies: 11
Views: 9117

When submitting the FBARs, would you suggest including a cover letter indicating that we were unaware of the requirement to comply with the reporting of foreign accounts? Is this going to help hopefully not be penalized?
by brew99
Fri Sep 30, 2011 2:45 pm
Forum: Canada / United States Tax & Accounting
Topic: How far back to file FBARs
Replies: 11
Views: 9117

Thanks tsanaha and nelsona.....I'll try the 3 yrs first and see what happens.
by brew99
Fri Sep 30, 2011 10:44 am
Forum: Canada / United States Tax & Accounting
Topic: How far back to file FBARs
Replies: 11
Views: 9117

Also, in addition to the question above. If i'm dealing with a RRSP account which I would normally only get quarterly statements, how am I to find the highers aggrated value for the year? Do I just use the available statements I have and pick the highest for that account?
by brew99
Fri Sep 30, 2011 10:41 am
Forum: Canada / United States Tax & Accounting
Topic: How far back to file FBARs
Replies: 11
Views: 9117

How far back to file FBARs

My wife and I have lived in canada for the past 10 yrs and we are in the process of getting her (USC) US back taxes filed (3 yrs) by a professional firm, but am going to attemp the FBARs myself since most of this data i'm gonna have to dig-up anyhow. What is the requirement for how many years back t...
by brew99
Wed Sep 21, 2011 3:21 pm
Forum: Canada / United States Tax & Accounting
Topic: Never filed a tax return
Replies: 6
Views: 4438

Forgive me if it is obvious to most, but is "under-reporting" the same as having filed US taxes many years ago (my wife previously lived/worked in the USA and filed US taxes, but hasn't since she moved here almost 10 yrs ago). Would you suggest 3 or 6 yrs in a case like this, in order to g...
by brew99
Wed Sep 21, 2011 12:50 pm
Forum: Canada / United States Tax & Accounting
Topic: Never filed a tax return
Replies: 6
Views: 4438

Nelsona,

I've seen you recommend 3 yrs of back taxes if no taxes are owed. Is this the requirement as apposed to 6 yrs? Many other forums are recommending 6, so i was just wondering if the IRS only requires 3?