Serbinski Accounting Firms

How about posting this to the thread on 8891.

Your assumption is wrong however.

<i>nelsona non grata... and non pro</i>

The 49% withholding would apply to any IRA withdrawal you make while a US non-resident, and are less than 60 years old. (30% tax and 10% penalty) But this is merelt withholding tax, not your final tax payment. You would still be able to file 10 1040NR and recover some of that tax, but not the penalt...

I don't think there has been any contradictory information as to the ]<u>reporting</u> of RRSPs. You need to make the RP 02-23 election for every year you've filed a 1040. The rev Proc even suggests how to do this As to the TD form, however, there is no provision to back-file such a form. I suggest ...

Since proof was not required when submitting the return, on what basis would you now send such proof? Save whatever you get for IRS. Good luck getting those details. Unless your holdings are six-figures, I wouldn't hold my breath for a response. And can I suggest that you stop hitting the return key...

You filed as a <u>resident</u>, not a deemed resident, which is generally reserved for Gov't wokers abroad. It was not the fact that you were or were not resident of canada, which determined whether or not you paid FICA, it was the fact that you worked as an employeee in US. You were correct to pay ...

IRS Publication 564 is for you: On capital gains distributions: <blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica" id="quote">quote:<hr height="1" noshade id="quote">Capital gain distributions are taxed as long-term capi...

Since you are required to file a US tax return every year, and since you are married, your only choices as to how to file in US are: (a) married filing separately, reporting nothing for your husband, but being taxed at a higer rate, or (b) married filing jointly, reporting World income for both of y...

As I explained, the most you would be taxed on is either the gain after you became non-res, or the portion of the overall gain based on the formula ((T-R-1)/T)*G, where R is years you were resident, minus 1, divided by total years (T) you owned house. G is the total gain I believe that each of you w...

Yes, I am refering to your non-res status, since US residents do not pay tax on Cdn gov't bonds by treaty You can do the analysis yourself, but if you leave the bond in your RRSP at some point you will pay tax in Canada on that interest (at either 15% or 25%). If you swap it out, you will not pay an...

Since you will be electing to defer taxation on your yearly income, it doesn't matter how you report the yearly income for federal tax , becuase you won't be reporting the income. When you withdraw funds from your RRSP, you will pay tax based on the book value you establish when you become US tax re...

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica" id="quote">quote:<hr height="1" noshade id="quote">That's a bit harsh, eh, Nelson?<hr height="1" noshade id="quote"></font id="quote"></blo...

Cdn real estate is never subject to deemed disposition, since it remains forever taxable in Canada. You (and your spouse) would only be taxed at the sale of the house, based on the the change of use formula, and split between you and her. Under your scenario, if you sold the house when she moved, sa...

Unlike tax returns, or the RRSP statements under RP 02-23, There really is no remedy for late filing.

Your best defense is to file 2004 on time (by june).

<i>nelsona non grata... and non pro</i>

Sorry, This is a site for cross-border tax issues, and not for debugging software.

<i>nelsona non grata... and non pro</i>

The fact that you have never declared any income, and have not made RP 02-23 statements, makes your 1040 returns wrong. You must go back to your first 1040 and make the election, and amend each 1040 since then. I have expalined this elsewhere. The same statement you make in 1998 can be used for each...