Tn Visa and CDN Tax

nelsona · Post by **nelsona** » Wed Nov 28, 2012 1:10 pm

Your should be. You ahve under reported income, and have probably neglected all sorts of foreign reporting requirements with IRS.

You really have nothing to worry about with CRA. You made a mistake in 2008, and there is not much they can do about that against you.

However, the IRS is another matter, especially because you have not been reporting the xistence of these accounts AND you owe money. You are basically a tax evader at this point.

Junoon123 · Post by **Junoon123** » Wed Nov 28, 2012 1:42 pm

wow don't you think its a harsh term to call me a tax evader? I wasn't aware that the 400$ i make every year from canadian saving account i have to pay taxes in the US. So ok i'll go back and amend the past 4 years and pay them taxes on those 400$ but calling me a tax evader thats ouch.

Thanks Nelson

nelsona · Post by **nelsona** » Wed Nov 28, 2012 3:05 pm

I didn't call you a tax evader -- the IRS considers you a tax evader, and even worse: a tax evader hiding money and accounts in a foreign country.

You need to be better informed.

Junoon123 · Post by **Junoon123** » Wed Nov 28, 2012 4:28 pm

As always thanks Nelson i have asked for a tax accountant advice. I will be going through him, it just struck as a blow that for 400$ someone can consider you a tax evader.

However as always thank you. Thank you for all the help you have provided to me here and in the past.

Thanks once again

nelsona · Post by **nelsona** » Wed Nov 28, 2012 4:55 pm

Be sure that all FBAR, RRSP/8891, PFIC and FACTA considerations are addressed.

If the advisor gives you a blank stare when you mention these terms, move on to someone else. This person will not be able to help you, and will overcharge you for the self-learning he will need.

Junoon123 · Post by **Junoon123** » Thu Nov 29, 2012 12:13 pm

Thanks Nelson will do