BC Low-Income Resident Contractor IRS Filing

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Lupine
Posts: 1
Joined: Tue Jun 02, 2020 8:38 pm

BC Low-Income Resident Contractor IRS Filing

Post by Lupine »

(I live in California, but...) This is for my US citizen friend who is a Canadian permanent resident living in Vancouver, BC: If I am below the income threshhold ($13,600 over age 65) for filing but I am an independent contractor and I have paid into the Canadian Pension Plan for over 40 years, so I don't have to pay US Social Security or Medicare taxes, do I need to file a 1040 at all? (I already filed my FBAR.)
cullen
Posts: 48
Joined: Sun Mar 27, 2005 1:34 am
Location: Greenville SC

Re: BC Low-Income Resident Contractor IRS Filing

Post by cullen »

I would still file one - you don't want gaps in filing especially when you have to file an FBAR anyway
Do you pass the threshold for Specified Asset reporting?
Joe
nelsona
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Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: BC Low-Income Resident Contractor IRS Filing

Post by nelsona »

You do not need to file. Since FBAR is separate from 1040, I don't see why filing FBAR would make you want to file 1040. Just make sure, when your pension income goes up, that you resume filing.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
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