Massachusetts from Vancouver Canadian and US taxes -

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----- Original Message ----- 
From: John and Deb 
To: David Ingram at home - bus at [email protected] 
Cc: David Ingram 
Sent: Friday, March 26, 2004 3:51 AM
Subject: US taxes?
Hello David
Can you prepare and submit U.S. tax forms, as well as Canadian?  I'm 
a dual citizen (some previous correspondence below) and will need to 
fill out both U.S. and Canadian forms for myself and my wife.  We 
moved from Canada (Vancouver) to the U.S.  (Massachusetts) a year 
ago, hence our tax forms for this taxation year involve moving 
expenses (we have receipts), a house sale in Vancouver and both U.S. 
and Canadian income.    What would you charge for doing our taxes 
(U.S. and Canadian).   Can we do this at the same time as  form 2003 
REV-PRC 2003-25 (etc.)?   We have all RRSP statements for 2001 and 
2002 now...is this sufficient for this process (one year's worth) or 
do I now need the 2003 RRSP statements?
Thanks,
XXXXXXXXXXXXXX
-------------------------------------------------------
david ingram replies:
We can do the US , MA and Canadian returns at the same time.  At this date, we would likley ask for an extension for the US returns but that is a simple matter to do and does not even require a signature.
I would think you are looking at $1,000 to $1,400 for this first year of moving again.  Our usual charge for two countries when in "one" country for a whole year is $700 Canadian.
We would need the Dec 31 2003 statements as well as the Dec 31 2002 and Dec 31st 2001 statements if you did not do the 2002 RRSP reportings.  
The 2002 reporting would be a little extra because it requires a simple amendment to the 2002 US return.  
I also would like copies of your 2001 and 2002 returns for the US and Canada.
The IRS has still not released the new form which was announced in december so we are using one that we made up back in 1990 in the interim.
david
==========================
the history of this email exchange is below - it started on Dec 7th
 and did not make the news list.
>I can't reply much faster at this time of the morning.
>
>If you do not have the statements, ask the companies for them.  They 
>might take ten days but that will be okay. 
>
>Sometimes, a Dec 31 2002 statement will be for the year.  If that is 
>the case, we do not need the dec 31 2001 statement because both 
>year's information is on the one statement.
>
>
>----- Original Message -----
>From: 
>To: <mailto:[email protected]>David Ingram at home - bus at [email protected]
>Sent: Wednesday, December 17, 2003 4:39 AM
>Subject: Re: clarification
>
>Thanks....
>Now what do I do if I can't locate all of the statements, which seems
>to be the case.  Presumably these companies can issue a new copy of
>the statement.
>John
>
>>-----Original Message-----
>>From:]
>>Sent: Sunday, December 14, 2003 7:29 PM
>>To: 
>><<mailto:[email protected]>[email protected]>mailto:[email protected]>[email protected]
>>Subject: clarification
>>
>>
>>Hello
>>I sent this email some days ago regarding a phone converstion with
>  >David Ingram (I think).
>>
>>Please respond if possible.
>>Thanks,
>>XXXXXXXXXXXXXX
>>
>>David
>>Following our phone call of yesterday, I just want to write down what
>>I think you said you need from us, so that you can correct any errors.
>>
>>1)  Copy of 2002 and 2001 US 1040 forms (I have spousal RRSP in her name)
>>
>>Yes!
>>2)  Cdn tax returns for 2001 and 2002 (presumably for each of us)
>>
>>Yes!
>>
>>3)  statements from Dec 31, 2001 and 2002 of each RRSP
>>
>>Yes!
>>
>>Did I miss anything?
>>
>>I also have a few questions...
>>
>>Do you need statements of my wife's RRSPs (Cdn citizen only)?
>>I also have some UBC pension funds....presumably you need this
>>statement as well?
>>
>>If you made contribuitions to the UBC pension fund by Payroll
>>deduction it should be incluided.
>>
>>However, the latest bulletin from the IRS does not ask for or
>>mention pensions. I believe they have been exempted by omission
>>because of the difficulty that the IRS would have in checking or
>>adminstrating this information.
>>
>>We expect to retire in Canada, although one can never be sure.
>>Presumably these RRSP funds and the pension funds should stay in
>>Canada...or are there benefits to transferring to some U.S.
>>equivalent.
>>
>>I would leave the Canadian funds in Canada and the US funds in the
>>US.  Although the treaty seems to allow the transfer, it is my
>>experience that no financial institution wants to allow the
>>transfer.  The Canadian RRSP booklet even has a line for
>>transferring a US IRA into a Canadian RRSP.  It is impossible to get
>>a US institution to transfer the funds tax free on the basis of a
>>Canadian book.  In 20 or 30 requests, I have not been able to get a
>  >comfort letter from the IRS./
>  >
>  >I have not been able to find a prior message from you other than the
>  >original enquiry.  It may have been knocked out be a virus or spam
>>filter.  Glad this one got through if so.
>>
>  >david ingram
>>
>  >David Ingram's US/Canada Services
>>US / Canada / Mexico tax and working Visa Specialists
>>US / Canada Real Estate Specialists
>>4466 Prospect Road
>>North Vancouver,  BC, CANADA, V7N 3L7
>>Calls accepted from 10 AM to 10 PM 7 days a week
>  >Res (604) 980-3578 Cell (604) 657-8451
>>(604) 980-0321
>><<mailto:[email protected]>[email protected]>mailto:[email protected]>[email protected]
>><<http://www.centa.com>www.centa.com>http://www.centa.com>www.centa.com
>><<http://www.david-ingram.com>www.david-ingram.com>http://www.david-ingram.com>www.david-ingram.com
>>
>>
>>
>>
>>iginal Message-----
>>>From: 
>>>Sent: Sunday, December 07, 2003 6:07 PM
>>>To:
>>><<<mailto:[email protected]>[email protected]>mailto:[email protected]>[email protected]>mailto:[email protected]>[email protected]>mailto:[email protected]>[email protected]
>>   >Subject: RRSP taxes when in US
>>   >
>>   >
>>   >Hi there
>>   >Just came across your website.   I'm a dual US and Canadian citizen
>>   >(originally from US) who's married to a Canadian but moved back to
>>>the US ten months ago (mid February, 2003, from Vancouver!).   My
>>>wife and I have roughly 70,000 Cdn in combined Canadian RRSP and
>>>pension funds.   We've become aware that we need to report this to
>>>the US authorities.
>>>
>>>Would you suggest we call to learn about the services/advice you
>>>offer for this sort of thing? Perhaps we'll try to call.
>>>
>>>Thanks,
>>>XXXXXXXX
>>>=====================================================
>>>david ingram replies:
>>>
>>>You have been responsible to report the internal earnings of your
>>>Canadian RRSP since Jan 1, 1989 under REV.PROC 89-45 for the year
>>>1989 to 2000.
>>>
>>>Then in 2002, REV-PROC 2002-23 was put forward which applied to 2001
>>>and 2002  and 2003 REV-PRC 2003-25 was brought forewward which
>>>further complicated the issue.
>>>
>>>You can find more about this by going to
>>><<<http://www.centa.com>www.centa.com>http://www.centa.com>www.centa.com>http://www.centa.com>www.centa.com>http://www.centa.com>www.centa.com,
>>>click on [Newsletters], click
>>   >on [2003], click on August and read the two sections.
>>>
>>>Those rules apply to you for all the years because you are a US
>>>citizen.  From 2003, a new form was just announced which is supposed
>>>to make the process easier.
>>>
>>>In addition, you have been required to report all your foreign
>>>(Canadian) fincancial accounts to the US on form TDF-90.  the
>>>penalties for not reporting these are up to $500,000 plus Five years
>>>in jail.  The record for silliness in  my office was a 105 year old
>>>lady with a $10,000 fine for not reporting her account at tehj Royal
>>>Bank of Canada in Edgemont Village in North Vancouver.
>>>
>>>I am available for phone consultation on this subject.
>>>
>>>David Ingram's US/Canada Services
>>>US / Canada / Mexico tax and working Visa Specialists
>>>US / Canada Real Estate Specialists
>>>4466 Prospect Road
>>>North Vancouver,  BC, CANADA, V7N 3L7
>>>Res (604) 980-3578 Cell (604) 657-8451
>>>(604) 980-0321
>>>New email to
>>><<<mailto:[email protected]>[email protected]>mailto:[email protected]>[email protected]>mailto:[email protected]>[email protected]>mailto:[email protected]>[email protected]
>>><<<http://www.centa.com>www.centa.com>http://www.centa.com>www.centa.com>http://www.centa.com>www.centa.com>http://www.centa.com>www.centa.com
>>><<<http://www.david-ingram.com>www.david-ingram.com>http://www.david-ingram.com>www.david-ingram.com>http://www.david-ingram.com>www.david-ingram.com>http://www.david-ingram.com>www.david-ingram.com

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