CRA requesting USA tax/account transcript

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Barcelona1796
Posts: 3
Joined: Wed Oct 07, 2020 7:55 pm

CRA requesting USA tax/account transcript

Post by Barcelona1796 »

Hello,

The CRA is requesting my 2021 USA tax/account transcript however the IRS has still not processed my tax return (they are very behind, I submitted my return in late June 2022). I think I made the mistake of mailing in my US tax return and it is taking a very long time. The CRA has stated I have 40 days to provide my transcripts however since the IRS hasn't processed my return those transcripts would be empty and useless.

Is there anything I can request from the IRS and/or CRA to give me a further extension? From what I heard the CRA is firm on the 40 days and I may need to re-adjust my 2021 tax return since I don't have proof to justify my foreign Tax credit. I did however receive my state tax refund which was $76. According to my 2021 federal return I'm supposed to be owed $1700 from the IRS.

Can anyone provide any insight or advice?

Thank you
ND
Posts: 223
Joined: Thu Feb 21, 2013 5:28 pm

Re: CRA requesting USA tax/account transcript

Post by ND »

RE: The CRA is requesting my 2021 USA tax/account transcript.

First off, note that IRS offers a variety of official transcripts, one is called 'tax transcript', another 'account transcript'. You've combined the two into one, while CRA always only wants the 'account transcript'.

Your best bet is to obtain 'account transcript', which which say it shows no record. Mark it up yourself to say 'return filed June 2022, not yet processed by IRS', submit it online to CRA at 'myaccount' along with a promise to provide the updated 'account transcript' as soon as IRS updates it with your processed return and ask CRA for an extension.
Barcelona1796
Posts: 3
Joined: Wed Oct 07, 2020 7:55 pm

Re: CRA requesting USA tax/account transcript

Post by Barcelona1796 »

Thanks for your reply and clarification.

So just to make sure I understand correctly. I am going to receive the account transcript add in the notes you mentioned about me filing my return and that I will amend it once IRS files my return. Then once I submit this I will contact the CRA and tell them my situation? Or do I also write on the transcript please give me an extension?

Should I call the CRA now and tell them my situation to see what else they say?

Thanks!
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