Discussion:Foreign tax refund
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| Revision as of 13:50, 19 February 2008 Tfrezza (Talk | contribs) (New Discussion) ← Previous diff |
Revision as of 00:29, 22 February 2008 LKfromCANADA (Talk | contribs) (This sounds like) Next diff → |
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| {{ForumNewPost|UserID=Tfrezza|Date=19 February 2008|Text=Not sure how to handle this one. I have a client who in 2007 received a refund for Canadian taxes paid in 2006. His employer paid all of the Canadian taxes for him therefore he deposited the refund check in his personal account and cut a check back to his employer. Should I report this in on line 10 1040 and back out on line 21 Sch A? Any thoughts? Thanks }} | {{ForumNewPost|UserID=Tfrezza|Date=19 February 2008|Text=Not sure how to handle this one. I have a client who in 2007 received a refund for Canadian taxes paid in 2006. His employer paid all of the Canadian taxes for him therefore he deposited the refund check in his personal account and cut a check back to his employer. Should I report this in on line 10 1040 and back out on line 21 Sch A? Any thoughts? Thanks }} | ||
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| + | {{ForumReplyPost|UserID=LKfromCANADA|Date=22 February 2008|Text=This sounds like a tax equalization policy. ALL the taxes that the Canadian employer paid for him in the first place should have been included in his income as a taxable benefit, therefore, the refund should simply reduce the taxable benefit amount. }} | ||
Revision as of 00:29, 22 February 2008
Discussion Forum Index --> Tax Questions --> Foreign tax refund
| 19 February 2008 | |
| Not sure how to handle this one. I have a client who in 2007 received a refund for Canadian taxes paid in 2006. His employer paid all of the Canadian taxes for him therefore he deposited the refund check in his personal account and cut a check back to his employer. Should I report this in on line 10 1040 and back out on line 21 Sch A? Any thoughts? Thanks | |
LKfromCANADA (talk|edits) said: | 22 February 2008 |
| This sounds like a tax equalization policy. ALL the taxes that the Canadian employer paid for him in the first place should have been included in his income as a taxable benefit, therefore, the refund should simply reduce the taxable benefit amount. | |
