Missed filing NR4 with US Tax Return

denisharlock · Post by **denisharlock** » Thu Feb 15, 2007 8:17 pm

I am a Canadian, US resident.

On reviewing last years tax return folder, it appears that I received two NR4 forms from Canada late, after I filed last year. Total income $55 CDN, with $8 CDN non-resident tax withheld.

I know that I should have refiled but I'm sure it's a wash.

Should I make an attempt to refile and what do I need to do?

Thanx, Denis

nelsona · Post by **nelsona** » Fri Feb 16, 2007 7:40 am

If you want to amend your return, file a 1040-X for last year, adjusting your income. To claim the credit, you would need to file a 1116, or amend one of the ones you sent last year. Passve income or High-withholding income.

My guess is that you will owe $10-$20.

You would also need to amend your state return.

You might want to apply Carson's threshhold at this point.

nelsona · Post by **nelsona** » Fri Feb 16, 2007 7:42 am

,,,, you would want to make sure that you include these accounts on yor TD form for thisyear, as failure to report the accounts carries more penalty than failure to report the interst

Carson · Post by **Carson** » Fri Feb 16, 2007 10:11 am

[quote="nelsona"]You might want to apply Carson's threshhold at this point.[/quote]

Ahem...that's a professional threshhold and not safe to be used by unqualified folks without direct supervision. :wink:

I recommend folks doing their own returns apply the "can I sleep at night" threshhold instead.

denisharlock · Post by **denisharlock** » Fri Feb 16, 2007 1:39 pm

OK...........

What if (by oversight) I just added the amount to this years tax return, not the '05 that it belongs to?

Would this cause more trouble than I am trying to correct?

nelsona · Post by **nelsona** » Fri Feb 16, 2007 3:50 pm

Yes. It would not be correcting anything.