Serbinski Accounting Firms

I see they have 100K for year end and 150K for the highest point of the year for married filing jointly. Is that apply to the combination of all foreign accounts?
For example: RRSP > 150K, but a joint checking account of 5K. Do I need to list out my checking account in 8938?

I have a joint Canadian checking account with my mother, do I have to report it in 8938. I already include it in FBAR.

Okay, I think I need to file it but just check the 3520 box in part IV. But what about Canadian checking account? Do I have to report it in 3520?

I have RRSP account in Canada. I filed FBAR and now I am filing 8891 with my 2011 tax return. I heard 8938 is also needed. Is that true?

Great. Thanks for your help

I noticed Turbo Tax 2011 generate my 8891 with section 10 "Undistributed Earning of the plan " with all fields empty. It didn't ask me during the interview.Should override manually or this is the correct way.

I am preparing 1040x for 8891. Since there is no change in income, exemption,etc. The only thing I have to fill out is the information part and the explanation of changes.

Am I correct?

[quote="tsanaha"]http://hodgen.com/how-the-irs-can-make-rrsp-cleanups-painless/ it seems IRS is reviewing RRSP problem[/quote] I just read the link. Seems like this lawyer will be talking to IRS this coming Monday on RRSP, l believe he will also ask about quiet disclosure. Let see what he ...

I heard the IRS is no longer accept late 8891. In fact they will bounce the 1040x back as untimely. And the only way is do back filing 8891 is through private letter ruling.

Anyone heard anything different?

The strange thing is her contribution doesn't even show up on W2. Box 12 is empty and her income is the same as without any contribution.

My wife has a 401A at work. But her W2 doesn't show anything in box 12. In box 13, there is a X under retirement plan. I am just wondering is there such a 401A plan that is non tax deductible. If that is the case, should I follow the IRA contribution limit under "Covered by Retirement Plan at W...

Yes, I also heard two versions of this: 1) Fill out delinquent FBAR. But can't just back file 8891, need to use private letter of ruling. Otherwise, IRS will charge interest and penalties on the RRSP 2) According OVDI Q42, even it is addressing 3520, but also applies to 8891. So just back file the 8...

Nelsona, thanks so much for your reply

There is an income test that the parent gross income much be < $3700 per year. I also found in Turbo Tax it said that gross income does not include social security and welcore. My parent does not has any income except CPP, Old age security, and some GST benefit. My question is whether CPP, old age s...

My tax preparer forgot to include my IRA contribution in 2008. Should I file an amendment to both my Fed 2008 and Cali 2008 return. Or can I use it for 2011?