Search found 245 matches
- Mon Apr 02, 2012 8:05 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Timing of Trust Year End RESP TFSA
- Replies: 3
- Views: 2563
Cliffie - If you haven't yet seen it, this is a really nice thread on how to do a 3520 which might help to some degree. I don't know about a fine, but I know that I can't recall seeing a person fined fora late 3520 that they initiated themselves. That's not proof that there would be no fine, of cour...
- Fri Mar 30, 2012 7:45 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Penalty for late filing of 3520 w no new tax owing?
- Replies: 7
- Views: 6292
- Fri Mar 30, 2012 5:24 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Simple 8621 question
- Replies: 1
- Views: 1768
Simple 8621 question
I have read that mutual funds purchased through banks/credit unions in Canada (just your typical mutual fund, ones with a listing in the newspaper) are not considered PFICs, as the bank is considered a corporation rather than a PFIC. It seems like there is conflicting information on this point, howe...
- Fri Mar 30, 2012 3:28 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Penalty for late filing of 3520 w no new tax owing?
- Replies: 7
- Views: 6292
Well, I resubmitted them, and I haven't gotten anything negative back, other than a letter saying they were reviewing them and would make a decision in 45 days or so. That was about 45 days ago, and was the second such letter I got after my first submission. So I am guessing that all is well. I stil...
- Mon Feb 20, 2012 1:59 am
- Forum: Canada / United States Tax & Accounting
- Topic: FBAR email amendments
- Replies: 2
- Views: 2251
Thanks - and a sidebar: Is there any gamble in submitting an amendment for something like that? It is possible to be penalized for an oversight mistake like that, but in practice, do such penalties actually happen? Put another way, is it better to just QD the oversight on the following year's FBAR? ...
- Fri Feb 10, 2012 10:45 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Where to put Child Care Credit from Canada on 1040 for USC
- Replies: 7
- Views: 5625
Where to put Child Care Credit from Canada on 1040 for USC
So, in Canada the govt sends you $100 a month if you have a child under a certain age (6, I think). If you are a USC, filing a 1040, do you need to claim this amount anywhere? If so, where?
Simple question, but I haven't seen it on the forum so far.
Thanks!
Simple question, but I haven't seen it on the forum so far.
Thanks!
- Mon Jan 30, 2012 7:42 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Closed TFSA in 2011, IRS paperwork beyond 3520?
- Replies: 7
- Views: 5001
- Wed Jan 18, 2012 8:59 pm
- Forum: Canada / United States Tax & Accounting
- Topic: TFSA-With Mutual Funds
- Replies: 14
- Views: 13098
Hi Newdual, I am doing the 8621 this year - didn't know about it last year and will do it this year. I haven't seen guidance on it, unfortunately. I know there are a few posts here about it, but they seem to be at a higher level than I am at. Has anyone seen a thread that walks you through a) how to...
- Tue Jan 17, 2012 10:17 pm
- Forum: Canada / United States Tax & Accounting
- Topic: TFSA-With Mutual Funds
- Replies: 14
- Views: 13098
- Tue Jan 10, 2012 10:23 pm
- Forum: Canada / United States Tax & Accounting
- Topic: How to get an EIN for a trust when you live in Canada - easy
- Replies: 6
- Views: 5592
Thanks nelsona! That's what I thought too, but after I previously submitted my 3520 and 3520-A the IRS assigned an EIN to my 'trusts' (TFSA, RESP, child's savings account). Their letter suggested it was necessary; in any event I suspect it will make it easier for them to keep track of my future 3520...
- Tue Jan 10, 2012 9:24 pm
- Forum: Canada / United States Tax & Accounting
- Topic: How to get an EIN for a trust when you live in Canada - easy
- Replies: 6
- Views: 5592
How to get an EIN for a trust when you live in Canada - easy
Hi all - I have gotten a lot of help from this board and thought I would send in a couple of how-to posts that might help others. I don't have a question here - this is just a note to help out (I'm open to feedback and extra information - and of course, any corrections!). This post relates to how to...
- Wed Jan 04, 2012 11:35 pm
- Forum: Canada / United States Tax & Accounting
- Topic: How to contact IRS after their letter indicating 3520 error?
- Replies: 24
- Views: 17360
- Sun Nov 20, 2011 2:01 am
- Forum: Canada / United States Tax & Accounting
- Topic: How to contact IRS after their letter indicating 3520 error?
- Replies: 24
- Views: 17360
Thanks Joyfla - Well, I resubmitted my 3520/3520A's. I did hear back from one of the IRS numbers I called and the respondent said I could call the International Tax Office. I figured there wouldn't be much value in this if I couldn't talk directly to the office that sent me the letters (Ogden) in th...
- Wed Oct 26, 2011 12:40 am
- Forum: Canada / United States Tax & Accounting
- Topic: How to contact IRS after their letter indicating 3520 error?
- Replies: 24
- Views: 17360
- Mon Oct 24, 2011 11:18 pm
- Forum: Canada / United States Tax & Accounting
- Topic: How to contact IRS after their letter indicating 3520 error?
- Replies: 24
- Views: 17360
How to contact IRS after their letter indicating 3520 error?
Hello! I am a US citizen living in Canada. After learning of the need to submit the 3520, I sent in 3520 & 3520A forms in August for the past 5 years. This was a grand total of 17 forms each, for various accounts. Last week I received a bundle of 14 letters from the IRS, stating that I needed to...