This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.
In early 2010, as per my employment contract I returned a signing bonus that I received in 2009. Do I still need to pay 2009 taxes on the signing bonus received in the fall even after fully returning the payment?
In the US it appears that either as a deduction on schedule A or as a payment credit under IRC 1341. But no idea how it works in Canada.
