Missing Schedule B

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.

Moderator: Mark T Serbinski CA CPA

Post Reply
NancyOntario
Posts: 1
Joined: Sat Mar 25, 2017 12:06 am

Missing Schedule B

Post by NancyOntario »

Hello,

Is there any advantage or disadvantage for amending one's tax returns simply to add missing schedule B part 3 'saying yes to foreign accounts existence and country of accounts"?
i filed FBAR forms for this year and for 2 more late years and i didn't make any interest in domestic and foreign accounts.
i dont mind amending all 3 taxes just to add the schedule even though it doesn't make any difference in overall income.... unless it attracts more scrutiny and chance for audit eventhough i dont have anything to hide!

Thanks,

Nancy
nelsona
Posts: 18699
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

I would not amend just for this as long as you met the requirements for the 3 questions.

Don't use 1040-EZ anymore. That is your real disadvantage.
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
Post Reply