November 2019

Dear Valued Client/Tax Professional:

We will provide more information in early January/February 2020.

We send our clients information directly at that time.  Please contact us if you wish to become a client prior to tax season.  Thank you!

The following is the general information required for a US return, but may not be all inclusive:

  1. Has your contact information changed? If you are a new client, please ensure we have your correct address and check your other details on your return carefully (name, SSN etc). 
  2. Please provide your birth date and prior year US return/FBAR information (if first year with our firm).
  3. Have any life circumstances changed? Married, separated, new children, etc. 
  4. For 1040NR: dates/# days in the U.S. (not including travel days)
  5. Estimated Tax payments and any State payments for the year.
  6. Have you sold your house or other assets that should be reported? This includes your primary residence.  The US has different rules than in Canada.  If so, we require year of purchase, cost of purchase, proceeds and any cost of sales.
  7. Did you move to Canada? Please provide details for pro-ration of income.
  8. US Tax Slips. This includes your US Social Security, although this may be excluded from your return.
  9. Canadian tax return and slips. If we do not prepare your Canadian return, we require this information to complete your US return.
  10. Realized gains and losses: for US investments, investment slips will likely be received, and we require all pages of these (including all 1099-INT/DIV/Integrated).  For Canadian investments, we can use your Realized Gain/Loss report but may require the Purchase dates to appropriately convert to US.
  11. Tax Free Savings Account (TFSA)/Registered Education Savings Plan (RESP) statements (Year-to-date/December statements) and any slips.
  12. Rental income (additional information may be required if a new rental)
  13. Business income, if self-employed
  14. Canadian Corporate tax filing and financial statements, if applicable
  15. US estimated payments made as well as any state payments
  16. Foreign bank account reporting/8938: see above and attached
  17. Itemized deductions – as per notes please include although they may not apply. Mortgage interest, please indicate if new and provide further information.


  1. FBAR/8938 Filing:


  • a copy of your prior year FBAR reporting (if we did not prepare this filing for you).
  • The maximum value of each account, in Canadian dollars (if a US account, please let us know this).
  • A copy of the bank statement, if a new account or if this is the first filing, will assist as we will need the name of the bank, branch address and account number as well as if it is a joint account. Please note that this filing can be complicated so please ask if you have any questions.
  • Please provide a copy of your FBAR if you filed and think your 8938 may be applicable.



This information and checklist have been prepared for use for clients of Paterson Henn CPA as a guidance and should not be used as tax advice for personal situations.  Further information may be requested. 
Please refer to source material from the IRS for certainty.Errors & Omissions Excepted.

Tax Alerts

Planning for – or even thinking about – 2020 taxes when it’s not even December 2019 may seem more than a little premature. However, most Canadians will start paying their taxes for 2020 with the first paycheque they receive in January, and it’s worth taking a bit of time to make sure that things start off – and stay – on the right foot.

The start of fall marks a lot of things, among them a number of runs, walks and other similar events held to raise money for a broad range of Canadian charities. And, within the next month, as the holiday season approaches, charities will launch their year-end marketing campaigns.

Most Canadians expend a considerable amount of time and effort in order to put money aside for retirement. Especially in an era in which the majority of workers can’t look forward to receiving an employer-sponsored pension plan, Canadians are well aware that the bulk of their income during retirement will have to come from government sources and from their own savings efforts.

To win elections, politicians need votes. And to run the election campaigns needed to garner those votes, those politicians need an organization, volunteers, and money — a lot of money. To wage the most recent federal election, the major political parties raised and spent millions of dollars, and their task of raising that money was undoubtedly made somewhat easier by the fact that Canadian taxpayers who donated money to political parties or candidate can obtain some tax relief from doing so.

Tax-free savings accounts (TFSAs) have been around for a full decade now, having been introduced in 2009, and for most Canadians, a TFSA (along with a registered retirement savings plan (RRSP)) is now a regular part of their financial and tax planning.

In most cases, the need to seek out and obtain legal services (and to pay for them) is associated with life’s more unwelcome occurrences and experiences — a divorce, a dispute over a family estate, or a job loss. About the only thing that mitigates the pain of paying legal fees (apart, hopefully, from a successful resolution of the problem that created the need for legal advice) would be being able to claim a tax credit or deduction for the fees paid.

As the baby boom generation ages, members of that generation must switch their focus from the accumulation of retirement savings to creating a structure which will ensure a steady flow of income throughout that retirement. Those individuals face a particular deadline when their 71st birthday arrives, as they must, by December 31st of that year, collapse their RRSP and convert it into a source of retirement income.

When parents separate and divorce, it is frequently the case that they are able to agree on an arrangement to share custody of their children. Such a shared-custody arrangement is often to the benefit of all concerned, especially the children of the marriage.

Canadians are fortunate to benefit from a publicly funded health care system, in which most costs of care ranging from routine visits to a family doctor to intensive care in a hospital setting are paid for by government-sponsored health insurance.

The Canadian tax system is a “self-assessing system” which relies heavily on the voluntary co-operation of taxpayers. Canadians are expected (in fact, in most cases, required), to complete and file a tax return each spring, reporting income from all sources, calculating the amount of tax owed, and remitting that amount to the federal government by a specified deadline.

By now, news of yet another data breach resulting in unauthorized access to personal information — especially financial information — has become so frequent as to seem almost commonplace. Notwithstanding, the recent data breach affecting Capital One was, in many ways, a singular event.

Chartered Professional Accountants