Search found 96 matches
- Wed Dec 18, 2024 9:26 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Interesting and hopeful development
- Replies: 1
- Views: 1903
- Tue Jan 02, 2024 2:56 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Inheriting RRIFSs/TFSA as a non-resident of Canada
- Replies: 7
- Views: 33444
- Sun Dec 31, 2023 9:08 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Inheriting RRIFSs/TFSA as a non-resident of Canada
- Replies: 7
- Views: 33444
Re: Inheriting RRIFSs/TFSA as a non-resident of Canada
nelsona, I want to make sure I understand your comment, and it applies to a non-resident of Canada.:
"So, this provides a tip for others in the same situation: While there may be some probate and tax advantages from naming someone directly beneficiary in a RRSP or RRIF, when the intended inheritor ...
"So, this provides a tip for others in the same situation: While there may be some probate and tax advantages from naming someone directly beneficiary in a RRSP or RRIF, when the intended inheritor ...
- Mon Nov 06, 2023 4:27 pm
- Forum: Canada / United States Tax & Accounting
- Topic: New CRA trust reporting requirements
- Replies: 2
- Views: 7759
New CRA trust reporting requirements
I am resident of Canada and have a US bank account and have designated a family member as a "Paid on Death" beneficiary. I understand this is considered a Totten Trust in the US, but I have not seen this characterization in Canada. A few years ago, I spoke with a person at CRA in the Trust section ...
- Fri Mar 24, 2023 3:26 pm
- Forum: Canada / United States Tax & Accounting
- Topic: death, taxes and filing requirements
- Replies: 5
- Views: 4644
death, taxes and filing requirements
Anyone have experience with IRS filing requirements for a Canadian estate? If I understand correctly, the death of a taxpayer automatically creates an estate, which is a trust, of some sort. I do not know, but I expect this would require the filing of a 3520 and perhaps a 3520A.
I currently have ...
I currently have ...
- Mon Mar 13, 2023 6:43 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Delay receiving notice of e-filed US tax return
- Replies: 9
- Views: 4941
Re: Delay receiving notice of e-filed US tax return
I received an e-mail informing of an update to the tax software, which was the reason my return was not accepted, and I should submit my return again, which I did, and it was accepted almost immediately. Big relief!
- Thu Mar 09, 2023 12:55 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Delay receiving notice of e-filed US tax return
- Replies: 9
- Views: 4941
Re: Delay receiving notice of e-filed US tax return
I am still waiting. I did e-file again a few days ago (at the suggestion of customer support) but still no word from the IRS. I did e-file a family members return recently, and it was accepted in less than an hour. Apparently something about my return needs further checking.
- Sat Mar 04, 2023 2:17 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Delay receiving notice of e-filed US tax return
- Replies: 9
- Views: 4941
Re: Delay receiving notice of e-filed US tax return
I do not know why the return was rejected, there was a generic IRS error code, but it did not help. I think some software is simply better for international filers.
- Sat Mar 04, 2023 1:11 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Delay receiving notice of e-filed US tax return
- Replies: 9
- Views: 4941
Re: Delay receiving notice of e-filed US tax return
An IRS rejection can certainly be a problem with the tax software. Several years ago I received a rejection and went thoroughly over my return, made a couple of minor adjustments(such as a space in the Canada postal code) filed again and received another rejection, again went through my return and ...
- Fri Mar 03, 2023 12:44 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Delay receiving notice of e-filed US tax return
- Replies: 9
- Views: 4941
Delay receiving notice of e-filed US tax return
Has anyone e-filed their 2022 US tax return and experienced a significant delay receiving acceptance or rejection fom the IRS? I e-filed 6 days ago and still have not received notice. Perhaps this is the new normal, but I have never waited more than 24 hours, and most years only a few hours.
I have ...
I have ...
- Thu Mar 11, 2021 1:20 pm
- Forum: Canada / United States Tax & Accounting
- Topic: TaxAct
- Replies: 7
- Views: 10470
Re: TaxAct
Try using a US zip code when it requests a US address.
- Tue Mar 02, 2021 1:49 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Do US Stimulus payments reduce FTC in Canada
- Replies: 2
- Views: 2192
Do US Stimulus payments reduce FTC in Canada
Apparently the US stimulus payments are not taxable in Canada; however they are defined as a refundable tax credit, and would this credit reduce or eliminate a Foreign Tax Credit in Canada?
- Tue Jan 26, 2021 2:22 pm
- Forum: Canada / United States Tax & Accounting
- Topic: RESP Rev Proc 2020-17
- Replies: 14
- Views: 15519
Re: RESP Rev Proc 2020-17
Thanks for the explanation.
- Mon Jan 25, 2021 3:26 pm
- Forum: Canada / United States Tax & Accounting
- Topic: RESP Rev Proc 2020-17
- Replies: 14
- Views: 15519
Re: RESP Rev Proc 2020-17
Thanks nelsona, the linked document seems quite definitive, other than a section from page two:
The Department of the Treasury (Treasury Department) and the Internal Revenue Service (IRS) INTEND to issue proposed regulations that would modify the requirements under section 6048 to exclude eligible ...
The Department of the Treasury (Treasury Department) and the Internal Revenue Service (IRS) INTEND to issue proposed regulations that would modify the requirements under section 6048 to exclude eligible ...
- Sun Jan 24, 2021 1:22 am
- Forum: Canada / United States Tax & Accounting
- Topic: RESP Rev Proc 2020-17
- Replies: 14
- Views: 15519
RESP Rev Proc 2020-17
As has been reported, in early March of 2020, the IRS released an advance version of Rev. Proc. 2020-17 to provide an exemption from the information reporting requirements under section 6048 for certain U.S. citizens and resident individuals with respect to their transactions with, and ownership of ...