Daniel Gray CPA
USC/Cdn resident Cdn University Students USD$4,000 refund
A US citizen attending a qualified Canadian university, if eligible for American Opportunity Tax Credit (AOTC), could on a 1040 claim it...
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Daniel Gray CPA
- Feb 14
- 1 min
CRA kinder to taxpayers than IRS when considering taxation of covid relief
For tax year 2021, individuals cannot claim to IRS the COVID-19 medical condition travel exception to exclude any days of presence in the...
56 views
Daniel Gray CPA
- Feb 10
- 1 min
IRS ITIN DEPARTMENT CAN SHOOT DOWN A W-7 FASTER THAN QUICK DRAW MCGRAW
The pictured CP566 IRS W-7 notice demonstrates both (i) the difference between CP566 where IRS requests info and CP567 (also pictured)...
119 views
Daniel Gray CPA
- Jan 31
- 2 min
Life hacks for mailing W-7 ITIN applications during covid
[CAUTION TO APPLICANTS: do not use any CAA who doesn’t require seeing your actual passport as that’s an IRS violation that disqualifies...
66 views
Daniel Gray CPA
- Jan 27
- 2 min
Here we go with 2022 ITIN expiry
It's almost never so. Applications are tricky, qualification or need is often tricky and expiry determination needs some attention. If...
1,064 views
Daniel Gray CPA
- Dec 15, 2021
- 1 min
Nothing in life is simple, this holds true for 1040 with IRS
One would think that the very first step of preparing a 1040 tax return – entering taxpayer’s name, would be the simplest and most...
32 views
Daniel Gray CPA
- Feb 2, 2021
- 1 min
Canada a tax haven!?
Quick study of short term gain IRS vs CRA CANADA - For the past 20 years, capital gains in Canada have been 50% taxable. Depending on...
158 views
Daniel Gray CPA
- Nov 13, 2020
- 2 min
FIRPTA sale - analysis weighing applying for 8288-B or waiting to claim refund on tax return.
Before Covid-19, often this question boiled down to the time of year of closing and amount of money withheld. If both the amount of money...
417 views
Daniel Gray CPA
- Nov 11, 2020
- 3 min
FIRPTA FILING COORDINATING 8288/8288-B/W-7 (ITIN)
If 8288-B isn’t filed, 8288/8288-A must be filed within 20 days of closing. If closing 8288-B is filed, 8288/8288-A must be filed before...
216 views
Daniel Gray CPA
- Nov 4, 2020
- 2 min
TIN TIN EXPLORES THE IRS
A Taxpayer Identification Number (TIN) is an identification number used by the Internal Revenue Service (IRS) in the administration of...
37 views
Daniel Gray CPA
- May 8, 2020
- 1 min
What is IRS e-file reject code IND-181?
IRS will reject an e-file and report rejection code IND-181 if at some past point of time you joined IRS "Identity Protection PIN"...
89 views
Daniel Gray CPA
- May 5, 2020
- 3 min
ITIN Application - USA RN Nursing licence or Student of US School with Taxable Scholarship
The biggest challenge is finding an application reason acceptable to IRS for such ITIN need. An ITIN cannot arbitrarily be issued upon...
874 views
Daniel Gray CPA
- May 4, 2020
- 1 min
Are the Canada Pension Plan and Canadian Old Age Security benefits taxable? Where reported?
The taxation of payments received from Canadian retirement programs that are similar to the U.S. Social Security system receive special...
196 views
Daniel Gray CPA
- Apr 14, 2020
- 2 min
Removing the mystery out of CRA request for IRS transcripts
There have been many questions regarding CRA requests for IRS transcripts to substantiate foreign tax credit claims on a T1 return. Does...
416 views
Daniel Gray CPA
- Feb 12, 2020
- 1 min
1040NR Sch OI Item F
Is a taxpayer required to report a historical change (i.e., not during the tax return reporting year) when answering this question: Have...
69 views
Daniel Gray CPA
- Feb 12, 2020
- 1 min
1040NR vs 1040 refund timing and processing
IRS says 1040NR return processing is 22-42 days. IRS doesn’t issue NOA like Canada’s CRA, so how do you check in on your check? One can...
598 views
Daniel Gray CPA
- Feb 10, 2020
- 1 min
ITIN for 2019 1040 filing
Your ITIN may expire before you file a 2019 tax return in 2020. If you need to file a 2019 tax return, you need to renew your ITIN now,...
26 views
Daniel Gray CPA
- Dec 23, 2019
- 1 min
Tell me that IRS won't tax USA stock dividends in my Canadian RRSP
First, Happy Holidays to all reading this! While IRS applies a non-resident 30% withholding tax to dividends paid on U.S. stocks (which...
28 views