International Tax Accountants -
US & Canada Tax Preparation

 

Are you looking for an international tax accountant to help with US - Canada or Canada - US tax preparation?

Serbinski Accounting Firms specialize in Canadian and American cross-border taxation. As a cross border tax accounting firm, we bring over 30 years of international tax expertise to our clients in Canada and the U.S. With offices in Toronto and Chicago, we are ideally poised to help clients on either side of the border, and are licensed to represent you in all states and provinces.

 

Welcome to the 2014 Tax Season:

 

We have now uploaded our Tax Organizer to all individual client private folders.  For existing clients, please download the Organizer, or contact us for access to the on line Tax Notebook for United States returns..


How to Get Started:

  • Search this site, or navigate to a subject area on the left panel
  • Participate in our Interactive Forum. (Our forum contains a wealth of cross border tax and immigration information.)
  • Book an “Initial Consultation” with Mark T. Serbinski
    • Book your consultation now if you need your 2013 or prior year income tax returns prepared.  Click on the above link for further information.
  • View or download current tax articles.
  • Contact us for information.

Client Login and File Upload:


Prepaid Audit Assurance Program:

As a result of the likelihood of increased government scrutiny of all returns filed, we have this year implemented our "Prepaid Audit Assurance Program".  Under this Program, we cover the costs of representation in the event you are audited.

 

New Developments in International Taxation

Currently there are four new options available to help U.S taxpayers living abroad become compliant.

 

FATCA Comes Into Force on July 1, 2014

All financial institutions outside the U.S. are gearing up to report details of accounts held by U.S. citizens or former U.S. residents as the FATCA legislation comes into force.

 

The Streamlined Filing Compliance Procedures

The Streamlined Filing Procedure (SFP) is designed for non-resident U.S. taxpayers who present a low compliance risk, have not filed U.S tax returns and have resided outside of the U.S since January 01, 2009.  Using this program you file three years tax returns with appropriate related returns and 6 years foreign bank reports.  The mandatory IRS questionnaire will help determine your compliance risk and qualification for streamlined filing.

 

This new procedure is intended to be an alternative to the IRS's current 2012 Offshore Voluntary Disclosure Program.

 

Based on your unique circumstances our office can help determine which of the four possible reporting options suit your needs.


US Citizens Holding RESP and TFSA Accounts

Important Filing Requirements

  • The IRS consider these plans to be foreign grantor trusts and as such are required to complete two additional forms.
  • Annual Information Return of Foreign Trusts must be filed by the 15th day of the 3rd month following the end of the trust’s year end.
  • Penalties, if not timely filed, incomplete or incorrect, start at 5% of the trust value or $10,000 (whichever is greater)

 

Application of Extension of Time to File form 3520A for 2013 must be filed with the IRS by March 15, 2014.  Please contact us well in advance to file the necessary extensions for your TFSA and/or RESP accounts.


Taxation can be the most complicated and stressful part of your international move. We are experts in income tax and estate-planning issues faced by individual Canadian and American expatriates living in their neighbouring country. A US Canada tax preparation expert will guide you through the minefield of double taxation and ensure you only pay what you are legally required.

We offer corporate tax services to businesses opening cross-border branches or filing tax returns for expat employees. We also consult businesses considering doing business in the U.S. or Canada. These services include tax planning and advice on incorporation and entity structure for corporations, partnerships and sole proprietorships transitioning from one country to another.

We also provide confidential services to lawyers, accounting firms, and other financial professionals who can benefit from our international tax expertise. Our accountants understand the interaction of the Canada U.S. Tax Treaty with domestic tax rules. Our services include compliance and research either through your firm, or directly to your client.

Contact us to book your initial consultation with a cross border tax accountant, in the country where you reside.

 

Hot Topics:

 

            American Taxpayer Relief Act (ATRA)

         January 2, 2013, President Obama signed into law the American Taxpayer Relief Act

Fifth Protocol
How the fifth protocol to the Canada U.S. Treaty Affects you.

NEW:  IRS has announced  four new filing options for U.S taxpayers living abroad.

 

US Citizens Holding RESP and TFSA Acounts.
Important filing requirements - Filing and extentions are due March 15, 2013

NEW:  IRS has announced new identification requirements for ITIN applications.

Renouncing U.S. Citizenship
Effect of expatriation on U.S. tax - Mark to Market realization of capital assets.