Are you an U.S. citizen?
We know cross-border taxes too.
Need help with U.S. returns? Our Tax Experts know the laws on both sides of the border. Here’s how we can help you file both your U.S. and Canadian taxes.
What’s included in our U.S. tax services?
Preparation of U.S. federal and state income tax returns for you and your family.
U.S. tax calculations.
U.S. and Canada treaty benefits.
Coordination of U.S. and Canadian deductions and credits.
- Assistance with correspondence from the Internal Revenue Service.
Find out if you need to file a U.S. return.
Good news! You may not have to pay taxes in both countries – we’ll show you how.
Earned income exclusion.
Form 2555 is a special form excluding foreign earned income from taxation in the U.S.
If you live outside the U.S., you have an automatic extension of two months to file your U.S. tax return, making June 15 your deadline. For your Canadian return, you still need to file by May 1.
Foreign Bank Account Reporting (FBAR).
If you are a U.S. citizen with a financial interest in foreign accounts exceeding $10,000, you must report it by e-filing the FinCEN114. Failure to report could result in a penalty of up to $10,000. The CRA and IRS communicate often on these matters, so talk to one of our Tax Experts today to protect your assets.
Foreign tax credit or deductions.
Claim a foreign tax credit on your U.S. return for taxes you paid to Canada.
U.S. citizens and green card holders must file a 1040 form every year if they meet income threshold requirements. You may also be subject to additional U.S. tax reporting if you own or are a beneficiary of Canadian mutual funds, TFSAs, RESPs, RRSPs or RPPs.
Need help with your U.S. taxes? Get started now.
U.S./Canada filing FAQs:
- U.S. citizenship can only be acquired in two ways: at birth or through naturalization.
- If you’re a Canadian living in the U.S. but not a U.S. citizen, we can help you file your 8840 Closer Connection Exception Statement to demonstrate your ties are closer to Canada than to the U.S.
- H&R Block has a variety of U.S. filing options to help you comply with all U.S. tax laws, even if this is your first time filing.
- We offer a range of options for those who wish to file for previous years, including the Streamlined Program and the Offshore Voluntary Disclosure.
- Our Tax Experts will help you prepare your final expatriate return to meet all U.S. Tax Code rules and regulations.
- You may have more filing requirements than a simple tax return. Speak to a Tax Expert to help you file your Form 8621 to report any gains inside your mutual funds. Please also note this is different than Canadian tax return reporting requirements.
- Any income collected is taxable in the U.S. Speak to one of our Tax Experts for help filing Form(s) 8621, 3520-A and/or 3520.
- Funds in an RESP are considered to be held in trust for a child. To include them on your return, you must complete Form(s) 3520-A and/or 3520. And as RESPs usually contain mutual funds, you may need to complete Form 8621. It’s also important to report any gains on these accounts on your U.S. tax return.