Thank you very much! What do you mean by "pro"? Tax attorney, enrolled agent or CPA? Do you have any good pro to recommend?
I really hope RESP is not a trust. That would have saved me lots of time on 3520/3520a.
Search found 8 matches
- Thu Feb 09, 2023 6:01 pm
- Forum: Canada / United States Tax & Accounting
- Topic: late reporting 3520a penalty on RESP account
- Replies: 7
- Views: 2737
- Sat Feb 04, 2023 12:28 pm
- Forum: Canada / United States Tax & Accounting
- Topic: late reporting 3520a penalty on RESP account
- Replies: 7
- Views: 2737
Re: late reporting 3520a penalty on RESP account
Hi ND, Thanks. I need send appeal letter within 60 days. Do you mean using Revenue Procedure 2020-17, instead of reasonable cause for late filing in appeal letter? The penalty abatement under IRC sec. 6677 is mentioned in Revenue Procedure 2020-17. In my letter, the penalty (failure to file timely f...
- Fri Jan 27, 2023 3:14 pm
- Forum: Canada / United States Tax & Accounting
- Topic: late reporting 3520a penalty on RESP account
- Replies: 7
- Views: 2737
late reporting 3520a penalty on RESP account
Recently got the 10k penalty letter for late reporting 3520a on RESP in 2018. 3520 was filed before 4/15/2018. I didn't know 3520a was needed until IRS sent a letter to request it. Then mailed 3520a in 5/2018. What reasonable cause can be used for late filing? Any chance to get the penalty waved? FB...
- Fri Apr 11, 2014 8:29 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US income or Foreign income
- Replies: 4
- Views: 2286
- Fri Apr 11, 2014 8:13 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US income or Foreign income
- Replies: 4
- Views: 2286
Thanks, Nelsona. I moved to US on TD visa at the beginning of 2011 and worked on several projects for my previous employer in Canada that year. So I filed tax return for the whole year to CRA and did wrote down my departure date. You are right. CRA denied the foreign tax credit I claimed. The reason...
- Fri Apr 11, 2014 5:29 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US income or Foreign income
- Replies: 4
- Views: 2286
US income or Foreign income
Lived in US and worked as a contractor for a Canadian company. Got paid by the Canadian company. Was the money US income or foreign income for US tax return? I was a tax resident for both countries and didn't claim any foreign tax credit from CRA.
- Wed Apr 09, 2014 12:09 am
- Forum: Canada / United States Tax & Accounting
- Topic: RRSP
- Replies: 13
- Views: 9654
- Wed Apr 09, 2014 12:08 am
- Forum: Canada / United States Tax & Accounting
- Topic: RRSP
- Replies: 13
- Views: 9654