Search found 12 matches
- Tue Jul 02, 2013 9:18 pm
- Forum: Canada / United States Tax & Accounting
- Topic: If my employer gives me "matching shares" how do I
- Replies: 1
- Views: 1665
If my employer gives me "matching shares" how do I
My employer offers a share matching program. If I invest a certain amount into the company shares, they'll match that each month (max $30 a month, I believe). I'm a dual US/Cdn citizen, and live in Canada. Would I need to report the matched shares in a US return? And if so, how? I wouldn't get money...
- Sat Feb 09, 2013 6:51 am
- Forum: Canada / United States Tax & Accounting
- Topic: Worried there is a mistake in 8891. Now what?
- Replies: 14
- Views: 6901
- Fri Feb 08, 2013 1:48 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Worried there is a mistake in 8891. Now what?
- Replies: 14
- Views: 6901
Although I will not use that accountant again, I have sent her an email with my concerns. As previously mentioned, I know she has done US returns for other Canadians. If she is going to keep doing them, she should be aware of this issue. I'm still confident the FBARs are correct. I had all of that i...
- Fri Feb 08, 2013 1:25 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Worried there is a mistake in 8891. Now what?
- Replies: 14
- Views: 6901
- Fri Feb 08, 2013 12:43 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Worried there is a mistake in 8891. Now what?
- Replies: 14
- Views: 6901
Nelsona - I did make the election. I did not do it properly. Do you mean I should try amending the original 8891 and seeing if they accept it? (them, actually) Or wait to see if they say anything about that first 8891, which I now know was wrong? Could be that I made it all worse in when I filed las...
- Fri Feb 08, 2013 11:31 am
- Forum: Canada / United States Tax & Accounting
- Topic: Worried there is a mistake in 8891. Now what?
- Replies: 14
- Views: 6901
Thanks for the response, Taxpoor. I have RRSPs at different institutions, so there really should have been more than one 8891. I am sure my accountant did this because she did not realize it was incorrect. She does not specialize in cross border accounting, and just offers it as an extra service. It...
- Fri Feb 08, 2013 3:34 am
- Forum: Canada / United States Tax & Accounting
- Topic: Worried there is a mistake in 8891. Now what?
- Replies: 14
- Views: 6901
Worried there is a mistake in 8891. Now what?
I think that when my accountant helped me “catch up†on US taxes a few years ago, she didn’t complete the 8891 correctly. Specifically, for the first 8891 where I elected to defer taxes, she didn't include a separate form for each RRSP. Instead, she just put the all the names of the institutions in the same form (and there are no account numbers listed).
I've tried to learn more since that first time I filed, and now I think this could be an issue. So now what? Should I try to correct that first 8891? I notice that there is a thread that says backfiling 8891s is no longer possible. I do not think this is backfilling because I have already filed, but I need to correct them. Is this right?
Note that I don’t owe any US taxes, and I did not on any of the previous years that I filed.
Also, that my RRSP is a group plan that includes mutual funds. Does that make a difference? I had thought the 8891 form was the right one, but now I'm second guessing everything.
I've tried to learn more since that first time I filed, and now I think this could be an issue. So now what? Should I try to correct that first 8891? I notice that there is a thread that says backfiling 8891s is no longer possible. I do not think this is backfilling because I have already filed, but I need to correct them. Is this right?
Note that I don’t owe any US taxes, and I did not on any of the previous years that I filed.
Also, that my RRSP is a group plan that includes mutual funds. Does that make a difference? I had thought the 8891 form was the right one, but now I'm second guessing everything.
- Tue Jan 29, 2013 10:20 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Does on-line filing of the FBAR work well?
- Replies: 5
- Views: 3638
- Thu Jun 14, 2012 9:21 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Attach FBAR to form 8891?
- Replies: 1
- Views: 1814
Attach FBAR to form 8891?
My account has recommended that I attach my FBAR to form 8891, to show custodian/address of my RRSPs. Is this really necessary?
I guess I just don't like FBARs, and don't want to send them out more than I need to.
I guess I just don't like FBARs, and don't want to send them out more than I need to.
- Mon Dec 19, 2011 11:07 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Catching up with U.S. filing...did I send in the right info?
- Replies: 1
- Views: 1697
Catching up with U.S. filing...did I send in the right info?
This summer, to "catch up" on U.S. filing, I sent in 3 U.S. tax returns, and FBARS going back to 2003. I sent the FBARS with a cover letter explaining that I'd never sent them in before because I didn't know I was supposed to (I've lived in Canada since I was a baby, and have no ties to th...
- Fri Sep 30, 2011 4:38 pm
- Forum: Canada / United States Tax & Accounting
- Topic: How far back to file FBARs
- Replies: 11
- Views: 7260
- Fri Sep 30, 2011 4:06 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Yet another question about FBARs, taxes and what to do
- Replies: 0
- Views: 1869
Yet another question about FBARs, taxes and what to do
I have been trying to figure out for months now what this means, and I'm afraid I'm not getting any closer to understanding. I"m a dual citizen, and I've lived in Canada for 44 years. I'm 45. Never filed US tax returns, though I always file Canadian returns. I "caught up" (I think. I ...