Serbinski Accounting Firms

Hi everbody,
Is the January 2012 TD F 90-22.1 is the latest version fo the form. I have heard that they may reject the filing if the form is not the latest? How Can I find the latest form?

Nelsona, please share your insight with me. I checked 1040 instruction, but it is not clear: it says if you have refund: 1. Dual status Alien ----> Austin TX 2. US resident -------> Fresno, CA (I live in Michigan) My confusion is still there. yes, I am US resident, but my wife (non-Canadian) is dual...

Thanks for replys, I wrote the statement, but now I have no idea about where should I file my tax return with statement. Shoudl I file to DEPARTMENT OF THE TREASURY INTERNAL REVENUE SERVICE AUSTIN, TX 73301-0215 because on the last page of 1040 instruction, it says Dual status Alien shoudl file to A...

[quote="nelsona"]Why are you asking at this point?[/quote]
To file my tax return. Is it too late? My original question was how should that statement be ? Looking for a sample. I was wondering if there is any form for it or a restrict format.

Thanks for you reply nelsona, But I am Canadian, My wife is not candian citizen, nor canadian resident (she is Chinese citizen). ANd I am US resident by SPT , she is dual status. Still we don't need statement?

Thanks for your reply. But the base of my question was this page from IRS website: http://www.irs.gov/businesses/small/international/article/0,,id=96370,00.html it says: How to Make the Choice Attach a statement, signed by both spouses, to your joint return for the first tax year for which the choic...

[quote="JGCA"]If ypu want to file a 1040 full year as MFJ, simply file a regular full year 1040 as Married no other disclosure is required , repoert you world income on it both of you and take any foreign tax credit if you have any to claim.[/quote] Thank you for your reply, I am aware tha...

Hello to this great forum, I am a US resident Alien and my wife is Dual status Alien. We want to file MFJ and she wants to elect to be treated as US resident. I am aware that it is possible. But how should we do that? Is it enought to just write a statement ? Does this statement should be in a parti...

Thanks for your reply. No they are not asking for more money. I am more concerned of IRS. With all these FBAR and FATCA, sooner or later, Uncle Sam will find about all my accounts in Maple Leaf land and then, they can impose penalties on me for not filing 1042-S for the interest I have given to Bank...

Sorry I try to correct the title , but it seems I post the whole message again and I don't know how to delete the duplicate, sorry.

[quote="Acacia"]Hello to everyone,

I have been a silent reader of this forum for a while and it helped me a lot. It's a great place to get info about cross-border issue. Thank you Nelsona and others.

I am a Canadian citizen and US resident. I have had OSAP and student (personal) Line of Credit from Canadian Bank which I continued to pay during 2011. I became US resident for 2011. It seems that as a US resident the Interest that I pay to a foreign person (individual or entity) is considered US- source income for them and subjected to 30% tax withholding or lesser rate due to treaty. I also know that Fifth protocol eliminates cross-border interest tax withholding.

Facts:

---I didn't get any W-8BEN or other relevant form from my Bank or OSAP authority and I don't think if I had asked, they would have given it.
---1042-S instruction reads as “However, withholding agents who are individuals are not required to report a payment on Form 1042-S if they are not making the payment as part of their trade or business and no withholding is required to be made on the paymentâ€￾
---BUT few lines lower it reads as “You must file a Form 1042-S even if you did not withhold tax because the income was exempt from tax under a U.S. tax treaty or the Codeâ€￾ BOTH these two sentences are under “Who Must Fileâ€￾

Question
What should I do right now? Do I need to file 1042-S by March 15? What do people do in these situation? I am sure there are lots of US resident who have a kind of loan or mortgage in Canada paying interest form it. It is very confusing.

Thanks for your time.[/quote]

Hello to everyone,

I have been a silent reader of this forum for a while and it helped me a lot. It's a great place to get info about cross-border issue. Thank you Nelsona and others.

I am a Canadian citizen and US resident. I have had OSAP and student (personal) Line of Credit from Canadian Bank which I continued to pay during 2011. I became US resident for 2011. It seems that as a US resident the Interest that I pay to a foreign person (individual or entity) is considered US- source income for them and subjected to 30% tax withholding or lesser rate due to treaty. I also know that Fifth protocol eliminates cross-border interest tax withholding.

Facts:

---I didn't get any W-8BEN or other relevant form from my Bank or OSAP authority and I don't think if I had asked, they would have given it.
---1042-S instruction reads as “However, withholding agents who are individuals are not required to report a payment on Form 1042-S if they are not making the payment as part of their trade or business and no withholding is required to be made on the paymentâ€￾
---BUT few lines lower it reads as “You must file a Form 1042-S even if you did not withhold tax because the income was exempt from tax under a U.S. tax treaty or the Codeâ€￾ BOTH these two sentences are under “Who Must Fileâ€￾

Question
What should I do right now? Do I need to file 1042-S by March 15? What do people do in these situation? I am sure there are lots of US resident who have a kind of loan or mortgage in Canada paying interest form it. It is very confusing.

Thanks for your time.