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IRS Account Transcript to satisfy CRA Foreign Tax Credit Proof for Claim

CRA denied your US tax credit claim? Does CRA want you to substantiate your claim by filing US tax returns that you aren’t required to file or producing tax payment proof of payments subjected to withholding and not by sending IRS a check? Do you have a TIN (SSN or ITIN)? If yes, consider obtaining your official “account transcript” from IRS, a service www.ustaxservices.ca provides by using IRS taxpros portal (with a POA). Then push that “account transcript” from IRS back to CRA. Note that generally the system can pull 1099 slips but not 1042 slips, but should be able to pull any taxpayer account if that taxpayer has a TIN. This can thus serve to altogether avoid the need to file with IRS an

Self employed in Canada claim exemption on 1040 SE tax via CPT56

Download CPT56 here https://www.canada.ca/en/revenue-agency/services/forms-publications/forms/cpt56.html Then, fill out the one-page CPT-56, then mail it to CRA to receive it backed stamped by CRA: Canada Revenue Agency CPP/EI Rulings Division Social Security Unit 320 Queen Street, Tower A Ottawa ON K1A 0L5 Use business (self-employment) start date, and write "indefinite" for the end date; if using the fillable form that does not allow for any input other than numbers, use the five year maximum (mentioned on the CRA website) but note that CRA may call to limit it to three years. IRS says: The self-employment tax is a social security and Medicare tax on net earnings from self-employment. If y

What's open and closed at IRS for Taxpayers

Due to the lapse in appropriations, most IRS operations are closed during the shutdown. During this period, the underlying tax laws remain in effect, and all taxpayers should continue to meet their tax obligations as normal. Individuals and businesses should keep filing their tax returns and making payments and deposits with the IRS, as they are required to do by law. The 2019 filing season will begin on Jan. 28, 2019, for individual taxpayers. The filing deadline to submit 2018 tax returns is Monday, April 15, 2019 for most taxpayers and June 15 for most qualifying US citizens abroad. Because of the Patriots’ Day holiday on April 15 in Maine and Massachusetts and the Emancipation Day holida

IRS Open for 1040 Business

Despite the government shutdown, the Internal Revenue Service confirmed that it will process tax returns beginning January 28, 2019 and provide refunds to taxpayers as scheduled. IRS has consistently been of the view that it has authority to pay refunds despite a lapse in annual appropriations. The IRS will be recalling a significant portion of its workforce, currently furloughed as part of the government shutdown, to work. As in past years, the IRS will begin accepting and processing individual tax returns once the filing season begins. For taxpayers who usually file early in the year and have all of the needed documentation, there is no need to wait to file. They should file when they are

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