Serbinski Accounting Firms

Thank you Nelsona for the information on the Rev Proc 2010 - 2019. For me, my employer is currently in the US and I am paying FICA taxes in the US. When I move to the US from Canada in October, would I still be able to use Rev Proc 2010 - 2019 since I was subject to US tax when I emigrated from Cana...

Okay, thought so that they might not be includeable on CRA tax return. I have amended my 1040 and sent it already.

I think I should file a 1040-x for this. It seems like this income falls under ARTICLE XXII Other Income 1. Items of income of a resident of a Contracting State, wherever arising, not dealt with in the foregoing Articles of this Convention shall be taxable only in that State, except that if such inc...

With regards to question 2., how do I avoid any penalties and/or interest?

The IRS only recently finished my tax return (filed by paper) only a month ago and I am surprised that they did not catch this.

Canadian citizen filed 1040-NR for tax years 2019 and 2020. In 2019, I filed a CA state return and got a refund of $700. My tax liability in CA was $4600 and amount withheld was $5300. As per 1040NR instructions, I claimed a state and local income tax deduction of $5000 (Married Filing Separate) sin...

To clarify, I meant to say my federal tax owing to the capital gain from these investments is going to be over $16,500.

Thanks Nelsona. All my investments are RSUs received as compensation and are in US brokerages (with a W8-BEN). My federal tax owing on these investments is most likely going to be over $16,500. Do you know what would be my options in that case? Do I have to provide some cash as security?

Thanks, nelsona. Basic question: how do you use your investments as security? Do you just keep them in your account and promise the CRA that you won't sell them?

Hi, I am a Canadian citizen that will be moving to the US soon and will become a US tax resident sometime next year. I was curious about how deemed disposition works 1. For the date, the CRA mentions in https://www.canada.ca/en/revenue-agency/services/tax/international-non-residents/individuals-leav...

[quote=okinawafl post_id=526126 time=1626823535 user_id=12100] I am sorry if I confuse you. for FTC, CRA has accepted the refund as one of the proof. But I still wan to sign up IRS online service but I didn't try before so just wondering how it works. Thanks. [/quote] Hi okinawafl, I was in the same...

Makes sense. Thanks again, Nelsona.

Yes, it's a shame that VPDI or SDI cannot be claimed on the Canadian return. I read somewhere that VPDI or SDI are treated as voluntary by the CRA even though they are actually required in California.

Hi Nelsona,

Just curious about where I can find the information in the treaty that the treaty overrides SPT?

I was/am in a similar situation and the IRS is severely backlogged right now. So, you might have to wait a while. You should call the CRA and request an extension. The number should be at the bottom of the review letter that you received. Another thing that I learned for my last year's review was th...

Me: Canadian citizen/tax-resident working in US on TN status My employer opened an HSA account for me and deposits a certain amount into that HSA every year. I have never made any transactions on the HSA. Since my employer is in California, the HSA contribution is taxable there but it is not taxable...