Search found 107 matches
- Mon Apr 13, 2020 6:22 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US government stimulus check
- Replies: 48
- Views: 21752
Re: US government stimulus check
My wife (USC, PR of Canada) has been filing every year and getting a refund for the additional child tax credit (we file form 1116) for our to two US/CAN citizen kids. She still maintains a bank account in the US but we always have the refund cheque’s mailed to our home here in Canada. We haven’t fi...
- Mon Mar 04, 2019 12:52 am
- Forum: Canada / United States Tax & Accounting
- Topic: IRS interest on 1099-INT
- Replies: 6
- Views: 2958
Re: IRS interest on 1099-INT
makes sense thanks!
I'm guessing an 8833 is not required to explain treaty provision?
I'm guessing an 8833 is not required to explain treaty provision?
- Sun Mar 03, 2019 3:25 pm
- Forum: Canada / United States Tax & Accounting
- Topic: IRS interest on 1099-INT
- Replies: 6
- Views: 2958
Re: IRS interest on 1099-INT
Thanks nelsona, I forgot about the resourced by treaty 1116 as it applies to US sourced interest. So basically, the tax credit will only be for the amount of that the IRS would tax her on that specific amount of interest. Essentially, $6 from the 1040 tax table....with no carry forward amounts appli...
- Sat Mar 02, 2019 12:08 am
- Forum: Canada / United States Tax & Accounting
- Topic: IRS interest on 1099-INT
- Replies: 6
- Views: 2958
Re: IRS interest on 1099-INT
Sorry meant to say "we filed her 2017 IRS return and post marked it for mailing on October 14, 2018"
- Fri Mar 01, 2019 11:24 pm
- Forum: Canada / United States Tax & Accounting
- Topic: IRS interest on 1099-INT
- Replies: 6
- Views: 2958
IRS interest on 1099-INT
I have a question about a 1099-INT form that arrived in the mail today...this is for interest in the amount of $58.47USD paid to my wife by the IRS. My wife is a U.S Citizen and PR of Canada. She lives and works in Canada. We filed her 2018 IRS return and post marked it for mailing on October 14, 20...
- Tue Nov 13, 2018 8:31 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US Res working across the border
- Replies: 19
- Views: 6919
Re: US Res working across the border
I'd like to chime in if I may....I'm a pilot for AC and a number of my colleague are US resident and commute to their base in Canada to start their pairings. In the past CRA taxed you only on the portion of the flight in Canadian airspace. So it was beneficial to depart Canada and head south - short...
- Sun Apr 15, 2018 6:33 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Reporting UCCB and EI income on US 1040
- Replies: 13
- Views: 6730
With the CCB being non taxable in Canada (no RC62 issued) vs the previous UCCB being taxable, the CCB is not reported to the IRS either. I'm pretty sure that is what nelsona is referring to when he says it is treated the same in the USA as it is treated in Canada. Normally the uccb went on line 21 -...
- Thu Mar 16, 2017 9:57 pm
- Forum: Canada / United States Tax & Accounting
- Topic: New FBAR deadline clarification
- Replies: 4
- Views: 3297
My understanding is that the new fbar deadline coincides with the tax return deadline... So if you are resident in the US then it's April 18. If you are out of country or non US resident (living in Canada) then your return due date is June 15, which also applies to fbar. If you apply for extension f...
- Thu Jul 07, 2016 5:53 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Trouble with 1116
- Replies: 15
- Views: 6956
- Thu Jul 07, 2016 2:49 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Trouble with 1116
- Replies: 15
- Views: 6956
I use TaxAct for mine as well, just a quick question regarding line 3d and 3e though. From the instructions for 1116 line 3d says to show all foreign source gross income you checked in part 1 of the form, so in the op's case it would be 65k for line 3d (se income 50k + emp income 15k). Line 3e gross...
- Tue Jun 28, 2016 9:42 pm
- Forum: Canada / United States Tax & Accounting
- Topic: How should gold in online account be classified for Fincen?
- Replies: 12
- Views: 5628
- Tue May 31, 2016 7:53 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Switching filing status from one year to the next
- Replies: 7
- Views: 4004
Thanks nelsona, good to know it raises no issues switching status year to year. I believe we started using HoH when our first child was born 7 years ago...I think we did this because of the higher standard deduction and also the threshold was higher for the child tax credit. Plus her income more tha...
- Tue May 31, 2016 12:51 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Switching filing status from one year to the next
- Replies: 7
- Views: 4004
Switching filing status from one year to the next
I was just wondering if you can switch filing status from one year to the next? Example: filing as head of household for a number of years and then switching to mfs for a subsequent year... My wife (USC, PR of Canada) has been filing as HoH, however, for 2015 can she file as mfs because her income i...
- Mon Apr 11, 2016 11:48 am
- Forum: Canada / United States Tax & Accounting
- Topic: Form 720 US Excise Tax on Foreign Insurance
- Replies: 8
- Views: 4931
Hi nelsona, You are right, I looked at the form again and there is a whole list of items with excise tax. I also did a search on this forum and there doesn't seem to be a whole lot of information about f720...one of those lesser known forms I gather. From what I could see in the treaty, there doesn'...
- Sun Apr 10, 2016 8:17 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Form 720 US Excise Tax on Foreign Insurance
- Replies: 8
- Views: 4931
First I've heard of this form but as an individual I don't think you have to file it. Correct me if I'm wrong though. From a quick search though, it appears that if you are a business, manufacturer or airline or retailer that deals in goods for which excise taxes are due then you are required to fil...