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Discussion Starter · #1 ·
In my previous years' 8891, my tax accountant filed only one 8891 with a wrong RRSP plan number, though I provided all RRSP purchase certificates to the accountant every year. I am correcting this issue by filing 1040x and 8891 for all years required. What I am not sure is:

For the item 6a, shall I select Yes, or No. I did make an election in the 8891 back a few years ago but with a wrong RRSP number and without all other RRSPs reported.

thank you!
 

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The technically correct answer is that you need to go and complete amended tax returns. However, the IRS probably wouldn't even process amended tax returns older than 3 years because the statute of limitations has already passed, assuming that you don't have some other reason for the statute to be extended.

If it is just a year or 2, then I would go back and amend those tax returns correcting for the number.

If it has been a long time, then I would amend the last 3 years and treat it as it has been correct. Let them challenge this, but I have never seen them do this.

Always check everything that your accountant does though because you bear the ramifications for what happens. The US law determines that you are responsible for what happens no matter who prepares it. The only recourse you have is to sue your accountant, but that really is not worth the cost of such action most of the time.
 

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Discussion Starter · #3 ·
The technically correct answer is that you need to go and complete amended tax returns. However, the IRS probably wouldn't even process amended tax returns older than 3 years because the statute of limitations has already passed, assuming that you don't have some other reason for the statute to be extended.

If it is just a year or 2, then I would go back and amend those tax returns correcting for the number.

If it has been a long time, then I would amend the last 3 years and treat it as it has been correct. Let them challenge this, but I have never seen them do this.

Always check everything that your accountant does though because you bear the ramifications for what happens. The US law determines that you are responsible for what happens no matter who prepares it. The only recourse you have is to sue your accountant, but that really is not worth the cost of such action most of the time.
Hi, barribr,

Thank you very much for your instruction/advice!

Actually, I need to make corrections for 4 years. I once read something in which a statute of 6 years was mentioned. Can you please confirm this? I have spent a few month spare time to understand some cross-border tax stuff and found out the problems left by the accountant. I fully agree with your opinion about suing the accountant - not worthing it. I think, it is better for me to do the tax return by myself to avoid the same problems occurring again and to save a few hundreds bucks.

I also need to back-file TD F90.22-1 forms for the years as the accountant never mentioned it to me. Do you have any clue for this?

Once again, many thanks!
 

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The statute of limitations for tax returns (i.e. 1040s and the associated forms) is still only 4 years. With this FATCA legislation, the statute for the FATCA forms only was apparently extended to 6 years. What that means in terms of what you need to file, I'm not entirely sure.
Cheers,
Bev
 
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