CRA Audit: Foreign Tax Credits

There is a very high probability that you will be audited for any foreign tax credits claimed on your Canadian tax return. The Canada Revenue Agency (CRA) requires specific documentation to support the claim.

How to Prepare for a CRA Audit After Filing a U.S. Tax Return

The Internal Revenue Service (IRS) does not provide notice of assessments. To prepare for a potential CRA audit, it’s critical that you order your federal Record of Account transcript (not tax transcripts) once your U.S. returns have been processed.

Here are Your Next Steps:

Check your U.S. refund status online at irs.gov/refunds
Order your federal Record of Account transcript online at irs.gov/individuals/get-transcript. You can also call the U.S. state you filed in and request your Record of Account.
Forward your Record of Account to us so we can add it to your files.

Take the Stress Out of Your Taxes

Our services can be provided in person or virtually through our two offices, located in Calgary and Toronto. Contact us to start the process!

I love working with Asif and his team. I can't think of anyone more aware of the ins and outs of taxes in both countries. Thank you for all you do to make things clear and understandable, deeply appreciated.

This company has been extremely helpful with preparing and filing both US and Canadian taxes. Most importantly the cross border requirements have been handled with due diligence, professionalism, and all completed on a timely manner. Would highly recommend.

I had a very pleasant experience working with Asif and Jeanine from FIRPTA Canada for my US taxes. Very professional. Timely responses and easy to communicate. Asif answered all my questions very clear. Hope to work with them in future for my Canadian taxes also.

Jeanine & Asif @ Firpta.ca are very professional and extremely knowledgeable when it comes to filing IRS tax returns for Canadian citizens. Don’t even think about trying to do this on your own. It is a complicated process to navigate through. FIRPTA Canada is definitely the “Go to Company”. You can sleep comfortably knowing that you are in good hands.