Our Services
Stateside Tax Solutions assist Canadian residents with all aspects of their U.S. tax filings. This includes the following; federal and state tax preparation, Canadian residents who temporarily work in the U.S., Canadians that own rental properties in the United States and Streamlined Foreign offshore procedure. Our area of expertise is preparing tax filings for U.S. Citizens living in Canada.
U.S. Federal & State Personal Income Tax Preparation
All US citizens are required to file a U.S. federal income tax return each year if their income is over a minimum threshold. Even if you have only Canadian earned income and paid taxes to Canada, you are required to file the US return if you are a U.S. citizen and your income fits into these thresholds:
- Single with income over $13,850
- Married filing jointly with income over $27,700
Streamlined Foreign Offshore Procedure
This program is for US citizens that have lived outside the US and have never filed a return. Taxpayers who remit their outstanding taxes and disclose their foreign accounts will not be charged penalties under the Streamlined Foreign Offshore procedure.
Filling requirements:
- File delinquent tax returns together with any required informational returns (e.g. Forms 3520, 3520A, 5471, 5472, 8621) for the past 3 years (2021, 2022, & 2023).
- File delinquent or amended Foreign Bank and Financial Accounts Report (FBAR’s – FinCEN Form 114) for the past 6 years (2018- 2023).
- Remit full amount of taxes and interest due.
- Complete and sign a certified statement for persons residing outside of the U.S. (Form 14653)
Federal Non-resident return for Real Estate
Canadians who own a rental property in the US are required to file a 1040NR return to report income, expenses and depreciation of the property each year.
The gain on the sale of any US property is still taxable in the United States and a US tax return must be filed. When property is sold by a non-resident the IRS withholds a percentage of the gross sales price and if the tax is less than the amount withheld, you’ll receive a refund for the difference.
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