Search found 12 matches
- Fri Feb 13, 2015 5:02 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Guidance on Form 8938 with respoect to RRSPs
- Replies: 53
- Views: 54534
- Sun Feb 08, 2015 1:41 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Just found out - am I bankrupt now?
- Replies: 53
- Views: 29838
the children would need to be registered as USC born abroad. http://toronto.usconsulate.gov/service/consular-report-of-birth-abroad.html If your child was born on or after 11/14/86, and only one parent was a U.S. citizen at the time of the child's birth, the child may have acquired U.S. citizenship ...
- Fri Feb 06, 2015 11:00 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Just found out - am I bankrupt now?
- Replies: 53
- Views: 29838
tdott's post is similar to my first post: that you may have relinquished your USC in 2000 by becoming a Canadian. see http://isaacbrocksociety.ca/how-to-renouncerelinquish/ you can confirm that you intended to relinquish your USC when you became a Canadian by going to a US consulate. you would get a...
- Mon Feb 02, 2015 1:24 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Just found out - am I bankrupt now?
- Replies: 53
- Views: 29838
yes, it seems you have found the references to relinquishment, which may help your situation. Being up to date and compliant with the CRA should really help too. Since there are a lot of rules, tax code, etc. around all of this, you might consider getting professional help to assess your situation, ...
- Sun Feb 01, 2015 2:42 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Just found out - am I bankrupt now?
- Replies: 53
- Views: 29838
- Sat Jan 17, 2015 7:22 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Guidance on Form 8938 with respoect to RRSPs
- Replies: 53
- Views: 54534
.at this point based on what I've read in the instructions and how I treat my employment pension...yes.. this is what I PLAN to do... see http://intltax.typepad.com/intltax_blog/2014/11/canadian-rrsps-and-rrifs.html for another blog opinion (last paragraph) as I indicated in my post I plan to report...
- Fri Jan 16, 2015 10:09 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Guidance on Form 8938 with respoect to RRSPs
- Replies: 53
- Views: 54534
well, my take on this is that RRSP and RRIF reporting for those needing to file an 8938 will be like reporting for any employment pensions (not CCP or OAS of course). As per the new instructions Nelsona posted, use Part II ( “Other Foreign Asset†Summary) to report the number of RRSPs, pensions etc and value. Any income is reported in Part III (2). The details such as value, where it is held , whether taxable..... etc is reported in Part VI. This is what I've been doing with my employer pension income except that I've been reporting address detail in line 7, not line 8 as the IRS says it wants for RRSPs. No complaints so far from the IRS.
So the reporting effort for those under the 8938 limit is now less and I think about the same for those who meet the threshold. I see no indication to report individual holdings.
So the reporting effort for those under the 8938 limit is now less and I think about the same for those who meet the threshold. I see no indication to report individual holdings.
- Fri Aug 22, 2014 3:19 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Late to the PFIC party
- Replies: 14
- Views: 14167
- Wed Aug 20, 2014 11:55 am
- Forum: Canada / United States Tax & Accounting
- Topic: Late to the PFIC party
- Replies: 14
- Views: 14167
Has anyone heard an update on efforts of the Canadian mutual fund industry's attempt to have Can. mutual funds (and ETFs) excluded from PFIC rules? It seems that Canadian duals can't own US mutual funds and effective can't own Canadian ones either--this is a limitation on financial well being .From ...
- Tue Aug 12, 2014 7:40 pm
- Forum: Canada / United States Tax & Accounting
- Topic: How will I be taxed if I accept this Canadian job?
- Replies: 7
- Views: 3654
Well, there is a move from the US to Canada, then a move from Canada to the US. Each country has rules, including those for eligibility, regarding the claiming of moving expenses. As a taxpayer, I'd be keeping the above mentioned records to hand a tax accountant at tax time, who will decide which ar...
- Tue Aug 12, 2014 11:48 am
- Forum: Canada / United States Tax & Accounting
- Topic: How will I be taxed if I accept this Canadian job?
- Replies: 7
- Views: 3654
- Mon Aug 04, 2014 2:05 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Sale of Canadian Home and US Capital Gains
- Replies: 9
- Views: 6078