Serbinski Accounting Firms

I did the same thing several years ago. Sent in 7 years back tax returns and 7 years FBARs to become compliant. I sent both packages by registered mail, so I would get a singed and dated receipt as proof that they received them. I once tried the 1-800 phone number to request an FBAR receipt, but of ...

If you can prove that you relinquished your US citizenship sometime in the past, you may escape the clutches of the IRS without becoming compliant, but be aware that renouncing only rids you of your US citizenship for immigration purposes, not for taxation. If you file 3 years of back taxes and form...

Why would anyone curse their Canadian born child with US citizenship, so that they could go through all the pain of US taxation when they grow up, all for the sake of a few dollars in tax credits?

ND: Just to be clear, can the IRS file a Tax Lien only for delinquent TAXES? Or can they also file a lien for penalties for the non-filing of information documents ?

The CRA has stated several times that they will not collect 'administrative penalties' on behalf of the IRS. So as long as you owe no US taxes, even if the IRS levels penalties against you, as long as you never visit the US again there is very little the IRS can do to you.

She applied to the local US consulate (Toronto) for an appointment to renounce in Aug. 2013, and got an appointment in Sept. 2013. I have heard reports that it can now take up to a year just to get an appointment. She filled out all her paperwork and paid her $450 fee (now $2,350) in one visit to th...

If you lived all your life in Canada, and have no intention of living in the States, why would you want to have a US passport? Just get a Canadian one.

No tax receipt = no problem
Tax receipt = problem

Many Canadian Banks do not issue tax receipts for interest payments less than $50.00. CRA states that you are still responsible for reporting it. How many people with small savings accounts go back through their previous year's monthly statements, adding up every $2 or $3 interest payment just do th...

I am a Canadian citizen and resident, non-USC. Back in 2008 I received some stock shares as part of my compensation from the Canadian company I worked for at the time. The shares were for the US parent company, listed on the NYSE, denominated in US$, and held by Smith Barney (now Morgan Stanley) bro...

I assume that the new "Family" income splitting would work the same way as pension income splitting. When I tranfer up to 50% of my pension income to my wife, I also transfer a proportionate amount of the tax that I paid on that income to my wife's Canadian return as "income tax deduc...

I will let more knowledgeable people give you the definitive answer, but I have been splitting my pension income with my wife (a former USC) on our Canadian taxes for the last 8 years, and she was never required to report it on her US taxes. The IRS requires you to report YOUR world wide income. I d...

Yes, "the total WEP reduction is limited to one-half of the pension based on the earnings that were not covered by Social Security", but it matters in what order the WEP is applied. The top of the webpage you reference clearly states that "The Windfall Elimination Provision (WEP) redu...

Now I understand the age 70 WEP calculation. According to the SS website "The Windfall Elimination Provision (WEP) reduces your Eligibility Year benefit amount before it is reduced or increased due to early retirement, delayed retirement credits, cost-of-living adjustments (COLA), or other fact...

OK. I ran the SS WEP calculator using my wife's earnings history and her birthdate (she is currently 61) with a foreign pension of $100/month. Here are the results: If she starts taking SS at 66, the calculated WEP in 2014$ is $50, i.e. 1/2 the $100 CPP. However, in future $ (age 66, 2019$), the WEP...