Serbinski Accounting Firms

ACTC claim will work with ZERO tax owed but won't worked with ZERO 'earned income', whether you earned zero wages or used FEIE 2555 to eliminate it all

RE:I believe that once you elect to use FEIE, you can't switch without expressed permission from IRS.
You can revoke and include law citation attachment in 1040. Then, you can't revoke the revocation for five years. But, there's endless amounts of what to be said on topic once one has dug deeper.

FYI You have to file the NR4 information return and give the recipients their NR4 slips on or before the last day of March following the calendar year to which the information return applies (in the case of an estate or trust, no later than 90 days after the end of the estate’s or trust’s tax year).

Look into 216 T1, electing under section 216 allows you to pay tax on your net Canadian-source rental income instead of the gross amount. You may owe zero tax on this basis and thus zero interest. If you elect under section 216, you can elect to have tax withheld on your net rental income instead of...

Yes, Rev. Proc. 2020-17 https://www.irs.gov/pub/irs-drop/rp-20-17.pdf provides penalty relief for taxpayers who have been assessed section 6677 penalties on qualifying tax-favored foreign retirement trusts and qualifying tax-favored nonretirement savings trusts. To apply for relief, taxpayers should...

Does filing form W9 with the broker eliminate it
yes

when filing your US taxes report the TFSA income and claim passive FTC on 1116 for Cdn source passive income

file 1040NR and ask for refund of all payroll fed and state income tax withheld. You'll need SSN or ITIN. Report entire wages on T1 and pay income tax only to CRA. forfeit FICA withholding unless employer willing to refund it, or, if your employer refuses to refund the taxes, you can file Form 843, ...

no, yes

Maggie: I've e-filed from Canada using both TurboTax and TaxAct. I'm surprised to learn there's US tax software that doesn't allow this. No one in this thread said there's US tax software that doesn't allow this. barb inquired if she could e-file 1040 with 1116 and 8833 and for e-file software names...

RE:Is the fact that they show on the 1040NR sufficient to also attach a W7 and apply for ITINs ?
RE: yes

DISAGREE. If there is no tax benefit in adding your children to your 1040, IRS will absolutely reject their W-7 applications and solely for that reason.

IRS exempted RESP from 3520 reporting, go that route, not the r/c route

But, to avoid this issue in the future, I've been told it is better to e-file the 1040. e-filing doesn't avoid this issue. Can anyone recommend a US tax program that allows e-filing from Canada when a f1116 and f8833 are part of the return? Gosystems or CCH Also, I haven't been able to get an IRS on...

Q5. The 2020 Form 1040 asks whether at any time during 2020, I received, sold, sent, exchanged, or otherwise acquired any financial interest in any virtual currency. During 2020, I purchased virtual currency with real currency and had no other virtual currency transactions during the year. Must I an...