Individual US tax filing (1040 and 1040NR)

Filing your tax return is essential for all US Citizens and Green Card holders. With the help of our team, you can minimize your late filing penalties, avoid a reminder from IRS, maintain your status and benefits, and provide your tax information and copy of tax returns where needed.

Past-due returns incur two types of penalties: failure to file and failure to pay. It is important to act as early as possible to begin settling any dues to the IRS. At RKB, we can help estimate potential failure to file and failure to pay penalties that are to be incurred by clients. If you have unfiled US tax returns, you may be eligible to file those delinquent tax returns under the Streamlined Filing Compliance Procedures, and you will not be subject to failure-to-file and failure-to-pay penalties.

We provide US tax filing services in Vaughan for US Residents, US Citizens,  and Non-Resident Aliens, either filing separately, joint, or head of the household for all states. We are Authorized IRS e-file providers, allowing us to file your individual income returns electronically to IRS for faster processing.

Our Services include:

  • Review your residency status for the cross-border filing.
  • FABR filing
  • FATCA (Foreign Account Tax Compliance Act) Form 8938
  • We guide you through the necessary tax steps when you are moving cross-border, either temporarily or permanently.
  • Minimizing double taxation, availing various exemptions, tax treaty benefits, Foreign Income exclusion, and foreign tax credits.
  • Filing form 5471 – U.S. persons having interests in a foreign corporation
  • We will ensure that every deduction, exemptions, and tax treaty benefit you are entitled to be captured on your tax return – Income reported on W-2, business income and expenses, rental income and expenses, Capital gain and losses, Income from a partnership.
  • We will prepare and provide your draft tax returns for your review and will explain all your queries that you may have
  • Once you approve, file Electronically your tax returns with IRS.
  • We guide you through obtaining your tax transcripts and tax refunds and in any communication with the IRS.
  • Application for ITIN and EIN, W-8BEN.
  • Exemption from Withholding tax for 8233 for Nonresident alien
  • Application for Withholding Certificate form 8288-B

Corporate Income Tax (1120 and 1065)

At RKB with our comprehensive cross border taxation knowledge and experience allows us to review your taxation issues from all perspectives. We design, Implement, and guide you with the most tax-advantageous strategies for both sides of the borders.

A Corporate taxpayer must file an annual income tax return (Form 1120) by the 15th day of the fourth month following the close of its tax year. Only C corporations pay corporate income tax. LLC and S-corporation pay income tax through their owners. Apart from federal income tax, a US corporation may also have to pay state income tax. Every state has its own filing and payment requirements.

  • An entity may require paying several types of taxes.
  • There are different types of corporate structures in the USA.
  • This can be further complicated when the business is cross-border. With our experience, you can become worry-free and put all your focus on establishing and growing your business.
  • IRS imposes penalties on unreasonable transfer pricing and management fees. These need to be carefully reviewed and documented.
  • 26 U.S. Internal Revenue Code § 6662 – Imposition of accuracy-related penalty on underpayments

A Canadian corporation may have to file (1120-F) and pay taxes in the US if they have income from a trade or business in the US. Similarly, Canada’s domestic tax law requires non-resident to file and pay tax on any income they earn from carrying on a business in Canada. This requires a detailed review of all your business connections, and you may be able to avail the treaty benefits.

We understand the complexity and the compliance requirements for filing your US taxes. We provide services for filing tax returns for C Corporation, S-corporation, and LLC. Our corporate tax services include attention to double taxation, owner’s compensation, transfer pricing, and costs allocation.

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