Sample Penalty Abatement Letters

This training material gives practical examples of how to request a cancellation of IRS penalty. The following letter samples include: – E1 Penalty Abatement Request – E3 Reasonable Cause Statement Transmittal – E5 Reasonable Cause Statement – Illness – E6 Reasonable Cause Statement – Ignorance of the Law – E13 Penalty First Time Abate Request

US Bank Contact

This document contains information for a US banker that will open up business bank accounts for US entities.

Changing LLC to LP

This training material covers the case of a Canadian individual who directly owns units of a US LLC, and would like to operate his business through a US LP instead. The following documents are included: – Presentation Slides – Memorandum (case study)

8288-B Withholding Certificate

This training materials reviews how to prepare form 8288-B, Application for a Withholding Certificate. When a non-resident alien sells a US property, the title company is supposed to hold back 15% of the sales proceeds. To reduce the withholding tax, form 8288-B should be filed with the IRS. This training materials includes the following documents: … Continue reading 8288-B Withholding Certificate

US Limited Partnership Setup for Canadian investors

This training materials is meant for accountants that would like to help their clients invest in US real estate and/or US rental properties. The first memorandum “Basic Setup” provides instructions for Canadian investors of a US Limited Partnership, where the US Limited Partnership is the owner of the US real estate. The second memorandum “Basic … Continue reading US Limited Partnership Setup for Canadian investors

Sample Letter from IRS for Form 8288-A

This is a sample letter from the IRS for the issuance of form 8288-A. It explains the required tax filings for a non-resident that has sold a US property, for which taxes were withheld at source.

U.S. 1040 Personal Tax Return

This case study is for the preparation of a US 1040R Return and a Non-Resident Canadian Tax Return (T1).

US 1040 Personal Tax Return + T1 Personal Tax Return

This case study involves the preparation of a US 1040 Personal Tax Return and a T1 Personal Tax Return for an individual who was a resident of the US and Canada for the entire year.

Trusts (3520 and 3520A)

These slides will review the reporting forms to completed for grantor and non-grantor trusts. Specifically, we will review the treatment of RESPs and TFSAs from a US reporting perspective. These slides also contain a practical case study.

Dual-Status Tax Return (Entering U.S.)

This case study is for an individual who enters the U.S. during the year. The solution is also attached. Students will prepare a dual-status return.

Cross-Border Pension

These slides review the tax rules with respect to cross-border pensions.

Cross Border Payroll Taxes

These slides cover payroll tax compliance issue for cross-border employees.

Dual Status Tax Return (Leaving)

This case study is for an individual, Lee Dut, who left the US and terminated his US residency. The solution is also attached. Students will be preparing a dual-status tax return.

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