Hello all, anyone have experience paying IRS from Canada? I am trying to help out a family member who is dual citizen and got a surprise notice from them for amount owing from before. I guess they stopped sending out notifications and the earlier ...
Mar 20th, 2024 1:50 pm
... your own financial/tax professional to verify the information below. Some links have been added below, but all the information can be found on the irs.gov website. FYI, I just heard some people discussing on X spaces for Canadians holding IEP that received dividends in 2023 will likely need to ...
Jan 20th, 2024 7:56 pm
Hi all, My wife is a USC and we live in Canada. She'll get a W2 for 2023 and we need to file for both IRS and CRA (Lived in Canada all the days of 2023). In the past we've paid an accountant to file for us and they charge a lot of money. My question is, does turbo tax have ...
Jan 7th, 2024 8:08 pm
Hello, Not sure if this has been discussed before, but I received a letter from RBC in regards to my Direct Investing Account with the IRS requiring documentation for US source income. I'm confused as I have a TFSA Directing Investing Account with RBC, but only have around $10,000 invested ...
Mar 26th, 2021 2:18 pm
So I unknowingly bought a stock that is a partners type and when their rather generous dividend was paid my broker informs me the IRS took about a third. I was wondering how much Canadians normally get back if any when this happens? We can apply to the IRS apparently to get some or all ...
Jun 13th, 2019 10:18 am
I've been shopping for a US credit card and bank account. It seems like if I had an ITIN # a lot of doors that are now closed would open. Wondering if this is hard to get, if you have to have be doing some sort of business in the US to qualify and if there are downsides to getting one. The tax rules...
Mar 30th, 2016 2:10 pm
... a US bank account to cut costs in my ecommerce business. However I don't want to become a 'US Person For Tax Purposes' or have to file with the IRS or anything. I'm running the business from Canada. I'll get paid in USD. The US bank account is mainly because the major American ecommerce platform ...
Feb 7th, 2015 10:09 am
... company selling to US customers via my channels, will not have any physical establishment in the US, how will taxes work? do i owe anything to the IRS do i have to incorporate in the US? TIA!
Dec 23rd, 2014 9:54 am
... in the state of Florida under my own personal name and have ''assigned'' them to the business. I want to be able to claim losses when I file my IRS tax return, but I'm not sure how to proceed. The former owner who sold these properties to me was also a foreigner, who used a registered Holdings ...
Jan 26th, 2014 10:22 am
Individual Taxpayer Identification Number (ITIN) seems to open a lot of doors in the financial world for Canadians wanting to invest in the US. Is it difficult to acquire? Suggestions?
Feb 15th, 2013 12:12 pm
I was over at Seneca yesterday and I won a small jackpot on the slots. (Small=about $1750) They held back about $525 in tax. I've googled a few refund management companies, and it looks like I'll be paying between $150-$200 to get the paperwork processed. Does this seem standard? On $525, that doesn...
Feb 20th, 2012 10:48 pm
... of Americans living in Canada — certainly many thousands, and possibly hundreds of thousands — who are at risk of massive penalties from the IRS, even if they have no U.S. income, owe no back taxes and haven’t lived in the States for years. Huge numbers of Americans don’t know the IRS requires ...
Aug 19th, 2011 11:54 pm
... citizenship. Mark warns, ."..if you are required to file a U.S. return, you probably want to voluntarily file before being contacted by the IRS. " Are you an American living in Canada? Do you pay the US tax man? What are your tax saving strategies?
Jun 17th, 2011 10:16 am