1040/1040nr
Moderator: Mark T Serbinski CA CPA
As a US citisen, all your income was taxed in US too. That is what I'm concerned about. How was the tax demanded by IRS reduced to zero, since it was reported on 1040 (and should havebeen included on 1040NR).
That is the whole point of filinga US tax return: to reduce the tax you would otehrwise owe by various credits, exemptions and deductions.
That is the whole point of filinga US tax return: to reduce the tax you would otehrwise owe by various credits, exemptions and deductions.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
.. and it isn't the case of not believing the IRS, their website, publications and instructions contail all the accurate info one needs.
It is the IRS telephlunkies which should NEVER be relied on. Your ACCT should be embarrased to even admit that they contacted IRS.
Call them 3 times and get 3 different, wrong answers.
It is the IRS telephlunkies which should NEVER be relied on. Your ACCT should be embarrased to even admit that they contacted IRS.
Call them 3 times and get 3 different, wrong answers.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
Nelsona
i agree with what you are saying that all my income is taxed by the US as a US citizen.
but my point being is that after one renounces there US citizesnhip then does one still have to report income on the 1040nr that is not generated in the US of A?
I have all my income on the 1040 up until the day I renounced. with all the appropriate deductions etc.
After my renunciation date, I am no longer taxed in the usa, therefore why would there be any values on the 1040nr?
anyway, why does everyone else whoever filed a dual status return say that they had all '0's on there 1040nr, but in my case i have to have values transposed from he 1040?
i have no us income, all my income is from canada.
i am obviously missing something here
i agree with what you are saying that all my income is taxed by the US as a US citizen.
but my point being is that after one renounces there US citizesnhip then does one still have to report income on the 1040nr that is not generated in the US of A?
I have all my income on the 1040 up until the day I renounced. with all the appropriate deductions etc.
After my renunciation date, I am no longer taxed in the usa, therefore why would there be any values on the 1040nr?
anyway, why does everyone else whoever filed a dual status return say that they had all '0's on there 1040nr, but in my case i have to have values transposed from he 1040?
i have no us income, all my income is from canada.
i am obviously missing something here
Nelsona,
you are correct on this. Just had a consultation with another firm, and they basically said the same thing you did.
However, they also stated that they IRS will probably accept the format that I have 'as is' and if not they will let me know.
A lot of people file if the way my firm did...not correct but this is what i paid for and sending it in this way. Worst case senerio is that they (the firm) will have to do this over again or fix the problem if one arises.
you are correct on this. Just had a consultation with another firm, and they basically said the same thing you did.
However, they also stated that they IRS will probably accept the format that I have 'as is' and if not they will let me know.
A lot of people file if the way my firm did...not correct but this is what i paid for and sending it in this way. Worst case senerio is that they (the firm) will have to do this over again or fix the problem if one arises.
And in addition,
Primo, and all other posters who have filed the way i did...1040 up to the date of relinquishment with all the income and numbers, then a 1040nr for the remainder of the year with all zero's have acutally done this incorrectly,
Having said this, in conversation with another Acccountant, he advises that they (IRS) have accepted this in the past and feels i should not have an issue.
regardless, i just don't have the money to do this all over again and will have to send it in as is.
If an issue arises then I will handle it when the time comes, as all the information is there anyway
again thank you Nelsona for the help and sorry for the confusion, i am sure if we chatted one on one i would get the point you were trying to make...it is just hard to understand, or get a point across in 'text' format.
Primo, and all other posters who have filed the way i did...1040 up to the date of relinquishment with all the income and numbers, then a 1040nr for the remainder of the year with all zero's have acutally done this incorrectly,
Having said this, in conversation with another Acccountant, he advises that they (IRS) have accepted this in the past and feels i should not have an issue.
regardless, i just don't have the money to do this all over again and will have to send it in as is.
If an issue arises then I will handle it when the time comes, as all the information is there anyway
again thank you Nelsona for the help and sorry for the confusion, i am sure if we chatted one on one i would get the point you were trying to make...it is just hard to understand, or get a point across in 'text' format.
This whole issue of IRS foreign reporting, which has lead to renunciation as caused so many unknowledgeable and incompetent CPA's to salivaterinto their keyboards over the winfall that thios created for them.
Not good enough to be worth the money to do ordinary taxes, and thus seeing their revenues drop, they jumped on thios cross-border thing without a clue as to what they were doing, all at the LARGE expense of people like you.
You do realize that once foreign reporting is done properly one time, that t is simple thereafter, and the there would be no need for this expatriation.
If onlt this had been ethically done from the outset, and left to the professionals who had been doing thos all along, there would never have been the need for a Cdn resident to renounce US citizenship.
Not good enough to be worth the money to do ordinary taxes, and thus seeing their revenues drop, they jumped on thios cross-border thing without a clue as to what they were doing, all at the LARGE expense of people like you.
You do realize that once foreign reporting is done properly one time, that t is simple thereafter, and the there would be no need for this expatriation.
If onlt this had been ethically done from the outset, and left to the professionals who had been doing thos all along, there would never have been the need for a Cdn resident to renounce US citizenship.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
Cdns who do so certainly do not do it for TAX reasons, as almost no US citizen living in canada pays US tax, except perhaps ... maybe .. on some US income, which they would have had to pay tax regardless.
It is a knee-jerk reaction based on suddenly realizing that they had to report these things all along, like those in the cross-border biz had been saying for 20 years.
It is a knee-jerk reaction based on suddenly realizing that they had to report these things all along, like those in the cross-border biz had been saying for 20 years.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best