Serbinski Accounting Firms

nope ...no son.ca....but his last name was a popular show in the 60's...hogans hero's.

Just remember, most accountants will steer you to ovdp because it has the least amount of question marks for them however ends up costing you upwards of 30 percent of your accounts

First of all don't panic.

It seems that you are going in the right direction and trying to correct something you were unaware of....and believe me you are not alone.

As far as capital loss...it does not make a bit of difference...the Us Department of the Treasury only wants to know the existence ...

You might want to review the filing requirements as she seems to have a retirements account(s) in Canada which require 8891 forms, TFSAs which require 3350/3350a forms, 8938 forms on your 1040(s) etc etc etc.

Oh yea...don't forget the FBARs to the Department of the Treasury if you have a aggregate ...

I am assuming you are asking this question to determine the requirement to file tax in the US.

If so, the question is not whether or not you are a US citizen, but rather are you considered a US person for tax purposes.

A US person is someone with US citizenship, this be attained by being born in ...

I think you should read the threads on this form regarding your situation, as there is a wealth of knowledge here, you just have to look for it.

With respect to Fbar penalties, read the instructions on FBAR and you will clearly see that his information is twisted, the penalty structure is pretty ...

Hmmm...they are pretty adamant that the paperwork has to be on there desk by June 30th....that is why most individuals (in the past) sent it FedEx so they had a record of the mailing.

Not sure how you would proceed on this one, my suggestion would be to call Detroit directly and explain your ...

I doubt if FATCA is going to have anything to do with you opening a bank account in Canada when and if it is implemented.

Thanks Nelsona

Following relinquishent of US Citizenship, does the individuals SSN number remain active, or valid for tax purposes.

In other words, is an SSN ever `revoked`once you have ceased being a us citizen (person)

I did have a similar issue when I filed my back returns a couple of years ago.

After some time not receiving the Obama stim check for 300 dollars...i called the IRS and to my surprise that check had been sent out (and returned) 3 times!

When i questioned her on the address, and it was obvious they ...

Robark

The FBAR clearly states that you have to tabulate the maximum value of any account for that tax year if the aggregate amount of your accounts exceed 10k

Therefore the 'spike' above 10k due to the fact that the house proceeds were there 'briefly' ensures that you must now report all accounts ...

I was lucky enough never to have a TFSA or RESP, so never had to file those forms...just the 8891 (which is somewhat of a 3520 form replacement)

I disagree. A tax lawyer is not needed (IMO) in Robark's case. At the very least a suitable accountant.

There is now a procedure to become tax compliant, as indicated by the IRS...all one has to do is follow the procedure.

FBAR reporting requires you to report the maximum value of that account in the calender year...it doesn't matter if it is only in the account for a couple of days or not, so the answer is yes.

I am curious when you state "putting that account briefly over $10K."

Do you realize that if the ...