Revenue Canada Review Help

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sjantzi
Posts: 67
Joined: Wed Feb 20, 2013 11:44 am

Revenue Canada Review Help

Post by sjantzi »

For the second year in a row, 3rd time in 4 years revenue canada wants me to prove I paid taxes in the USA. I've worked for the same company for 20 years as an employee!!!

For the second year in a row IRS STILL HAS NOT PROCESSED MY RETURN!!

2020 and 2021 returns have still not been processed and I cannot get a transcript. Last year I sent them 52 paysubs, cashed cheques and copy of returns and they accepted it.

I'm not confident they'll accept that again and I dont know what to do
BriCheese
Posts: 5
Joined: Tue Dec 13, 2022 3:22 am

Re: Revenue Canada Review Help

Post by BriCheese »

Did you manage to convince them to accept this explanation? In this case, I would definitely hire a financial advisor to help prove I’m not lying to Revenue Canada. Luckily, I’ve never had issues and have always managed to cooperate with both the IRS and Revenue Canada.
The only thing I need an advisor for is SaaS revenue forecasting. As described on https://blog.coupler.io/saas-revenue-forecasting/, it can be a rather tricky process, and a lot of variables need to be considered before making the final prediction. I cannot do that myself, and I prefer to hire a professional to help me with it.
Numbersman61
Posts: 13
Joined: Wed Sep 09, 2020 1:02 pm

Re: Revenue Canada Review Help

Post by Numbersman61 »

I sold a condo in the US in December 2020. I used a cross border tax expert to file with 2020 returns with IRS and Arizona state and CRA. In July 2021, CRA requested proof of foreign taxes. My accountant forwarded to CRA copies of US filings and copy of check cashed by Arizona. This was satisfactory for CRA. Finally, in November 2021, I received refund check for IRS - no transcript included with check even though, a transcript was requested.
I have friend who sold his condo in February 2020 - tax withheld $45,000. Since he had no profit on the sale, entire amount is refundable. Against my advice, he used a US CPA who had no cross border expertise to file his return with IRS. He’s still waiting for a refund from IRS.
Moral of the story - Always use a cross border tax specialist.
sjantzi
Posts: 67
Joined: Wed Feb 20, 2013 11:44 am

Re: Revenue Canada Review Help

Post by sjantzi »

I ended up giving them 52 copies of my paystubs, bank statements show the deposits and a copy of the checks I wrote for the small amount I ended up owing. They accepted it and the deduction was allowed
Phil Hogan, CA
Posts: 30
Joined: Fri Jan 08, 2010 12:11 pm
Location: Victoria BC
Contact:

Re: Revenue Canada Review Help

Post by Phil Hogan, CA »

I understand your frustration. Most of our cross-border clients get there FTCs reviewed on an annual basis and we have to constantly communicate with the department to show them our FTC calculations.

We've also had many long processing time waits for 1040s. That being said, after making the move to 1040 e-filling a few years ago processing got a lot better.
Phil Hogan, CA, CPA (Colorado)
Cross-border investment advisor
http://philhogan.com
250-661-9417
Victoria BC
Toyboys
Posts: 7
Joined: Mon May 29, 2023 10:31 am

Re: Revenue Canada Review Help

Post by Toyboys »

I've encountered this too
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