Hi, The Treasury Dept. form is due June 30th, and here I am again with questions, because now, I'm doing my son's for him, to help him out. Blind leading the blind [:D]
First, some of his accounts are joint, and some aren't. But I see no way to specify which. Is there a way, and I'm just not seeing it?
Also, his girlfriend, soon to be his wife, does not want to have her name anywhere on the IRS radar. What happens if he answers truthfully the question that refers to having joint accounts, and leaves the name blank? She has no ITIN, and is not a dependent.
Thanks so much for your help,
Marge
Form TD etc. for Detroit - Requirements
Moderator: Mark T Serbinski CA CPA
Typically, a couple/partnership/whatever sends several (3) TD forms, one for each person listing individually held accounts, and one listing joint accounts (bank, spousal RRSP, etc).
Strikes me that you should have been sending in 2 all along, given that you surely have a joint checking account.
...and you've had accounts in Canada for how long?
As to wanting to stay off the IRS radar screen, this is silly[:o)], or paranoid[:p], or both.
<i>nelsona non grata... and non pro</i>
Strikes me that you should have been sending in 2 all along, given that you surely have a joint checking account.
...and you've had accounts in Canada for how long?
As to wanting to stay off the IRS radar screen, this is silly[:o)], or paranoid[:p], or both.
<i>nelsona non grata... and non pro</i>
Hi, I've been writing the words "joint account" in the left margin of my forms, in order to be completely truthful. I added "where applicable" on the question referring to joint accounts. Never occurred to me to use a separate forms, though I will from now on.
As to paranoid, perhaps a certain paranoia is indeed warranted.
Perhaps if you think about it in reverse, you'll see : Suppose you and your girlfriend, who was born in the US but has dual French-US citizenship, have a joint bank accounts. Neither of you has ever lived or worked in France, and you both have always worked in the US.
Imagine France required your girlfriend to give them your name and bank account numbers, and France had the legal clout to require further information about your money if some beaurocrat over in France erroneously decided you deserve an audit?
Wouldn't you feel it was none of France's business what bank accounts you have?
Wouldn't you feel it was the height of arrogance on France's part to assume it had a right to such information?
Substitute a smaller, "upstart" country like Iceland or Korea, and imagine the same scenario. Surely your reaction would be, Who the heck do they think they are??
I do hope you'll see my point. It's one that really really riles me! [:(!]
And there's no guarantee, just because an employee works for the U.S., that (s)he won't abuse his/her power, or steal personal information. No guarantee either, that a hacker couldn't get into the U.S. gov't files.
Sorry for the rant...I am so grateful to you for your help, and hope you will still accept my thanks!
So--thanks a lot,
Marge
As to paranoid, perhaps a certain paranoia is indeed warranted.
Perhaps if you think about it in reverse, you'll see : Suppose you and your girlfriend, who was born in the US but has dual French-US citizenship, have a joint bank accounts. Neither of you has ever lived or worked in France, and you both have always worked in the US.
Imagine France required your girlfriend to give them your name and bank account numbers, and France had the legal clout to require further information about your money if some beaurocrat over in France erroneously decided you deserve an audit?
Wouldn't you feel it was none of France's business what bank accounts you have?
Wouldn't you feel it was the height of arrogance on France's part to assume it had a right to such information?
Substitute a smaller, "upstart" country like Iceland or Korea, and imagine the same scenario. Surely your reaction would be, Who the heck do they think they are??
I do hope you'll see my point. It's one that really really riles me! [:(!]
And there's no guarantee, just because an employee works for the U.S., that (s)he won't abuse his/her power, or steal personal information. No guarantee either, that a hacker couldn't get into the U.S. gov't files.
Sorry for the rant...I am so grateful to you for your help, and hope you will still accept my thanks!
So--thanks a lot,
Marge
France?! Iceland?! Korea?! Get serious.
Like it or not, The IRS (Treasury Department) DOES require that any US citizen holding a joint foreign account with anyone else, bofriend, husband, girlfriend, chicken (as part of total foreign holdings of more than $10k) to report it <u>and them</u>.
If you don't like that law, I guess you could absentee vote for someone who will change it.
<i>nelsona non grata... and non pro</i>
Like it or not, The IRS (Treasury Department) DOES require that any US citizen holding a joint foreign account with anyone else, bofriend, husband, girlfriend, chicken (as part of total foreign holdings of more than $10k) to report it <u>and them</u>.
If you don't like that law, I guess you could absentee vote for someone who will change it.
<i>nelsona non grata... and non pro</i>