Do I need to file a US tax return?

Canadians:

Canadians need to file a US tax return for their US source income. Below are the most common situations where a Canadian citizen would need to file a US tax return:

• If you earned US source income through employment, self-employment, or other services you provided in the United States.
  
• If you earned rental income from a property you own located in the United States.
  
• If you sold real estate (or other property) on which US taxes were withheld. A refund of these taxes may be available.
  
• If you had US source lottery winnings on which taxes were withheld. A refund of these taxes may be available.
  

Please note: If you do If you do not have an Individual Taxpayer Identification Number (“ITIN”) or Social Security Number (“SSN”), we will assist you in applying for an ITIN as part of our US tax return preparation service.

Americans:

US citizens and green card holders must file a US tax return every year regardless of where they live and work, if they exceed the minimum income threshold amount.
There are additional reporting requirements for US citizens that we are happy to help you report and file:

• If you own or are a beneficiary of TFSAs, RESPs, RRSPs, or RPPs, you will need to file a special information return.
• If your investments and/or bank accounts total more than $10,000, a Foreign Bank Account Reporting (FBAR) must be filed.
• To claim your foreign tax credits and deductions; including earned income exclusions.

If you have not previously filed your US tax return or have multiple years to catch up on, we can help you determine your best option, including the Streamlined Filing Program.

*** Remember: US tax filing deadline is June 15th if you live outside the US. ***

Please contact us to discuss your specific situation and confirm whether or not you are required to file a US tax return, FBAR, and/or information return.