BC Low-Income Resident Contractor IRS Filing
Moderator: Mark T Serbinski CA CPA
BC Low-Income Resident Contractor IRS Filing
(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.)
Re: BC Low-Income Resident Contractor IRS Filing
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?
Do you pass the threshold for Specified Asset reporting?
Joe
Re: BC Low-Income Resident Contractor IRS Filing
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