Hi,
I’m Looking for any suggestions on a reliable and thorough Windsor, Ontario based Accountant who has experience with cross border taxes, Our situation include the following:
US and Canada personal Returns
Rental Income statement
2 Fbars
2 3520 & 3520A (RESP)
Canada Foreign Income verification statement
Any suggestions or recommendations would be greatly appreciated.
Thanks
US/CANADA Accountant recommendation?
Moderator: Mark T Serbinski CA CPA
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- Posts: 81
- Joined: Sun Jan 06, 2019 2:24 pm
Re: US/CANADA Accountant recommendation?
Do not even consider filing 3520/3520-A forms for an RESP, unless you'd enjoy one of the $10k fines that the IRS has been handing out like candy. More on this issue here: https://www.taxconnections.com/taxblog/ ... taxpayers/
Whether you should be filing any US returns at all is another question - it depends on your personal situation of course. If you are a Canadian citizen resident in Canada with no US assets or income sources, you would be much better off staying out of the US tax system entirely.
Whether you should be filing any US returns at all is another question - it depends on your personal situation of course. If you are a Canadian citizen resident in Canada with no US assets or income sources, you would be much better off staying out of the US tax system entirely.
Re: US/CANADA Accountant recommendation?
I can only tell you who not to take. Raymond Chabot Grant Thornton prepared our Canadian and American statements when we left Canada. I ended up with a $ 10,000 penalty for form 3520-a. Poor customer service, difficult to reach and double billing.
Re: US/CANADA Accountant recommendation?
Why not google US tax accountants in Toronto or other major Cdn cities and see which non-advertised firms received the highest ratings?
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- Posts: 81
- Joined: Sun Jan 06, 2019 2:24 pm
Re: US/CANADA Accountant recommendation?
Stay away from any accountant who recommends filing a 3520 or 3520A for any type of registered account (RRSP, RESP, TFSA etc.). Bad idea. Bad things will happen.