Wish Kwok Associates

03/13/2026

Good news! If you forgot your CRA user ID or password, you may be able to register for a new credential online, no need to call us.

Get your most recent tax return and multi-factor authentication (MFA) information ready. To help keep your account secure, your old credential will be removed. https://www.canada.ca/en/revenue-agency/services/e-services/cra-login-services/register-cra-sign-in-services.html

If you have lost access to your MFA information or have had your account locked by the CRA, phone support remains available to assist you.

[Image description: A person is looking at their cellphone in an indoor space. “Regain access to your CRA account”]

03/12/2026

Breaking News -- Just Announced!!!!

The US Department of State has reduced the renunciation fee to $450 USD - effective April 13 2026!

[Public Notice 12954]
RIN 1400-AF61
Schedule of Fees for Consular Services – Fee for Administrative Processing of
Request for Certificate of Loss of Nationality of the United States
AGENCY: Department of State.
ACTION: Final rule.
SUMMARY: This final rule adjusts the Schedule of Fees for Consular Services by
reducing the fee for Administrative Processing of Request for Certificate of Loss of
Nationality of the United States from $2,350 to $450.

See their release here --> https://public-inspection.federalregister.gov/2026-04931.pdf?fbclid=IwY2xjawQgJJFleHRuA2FlbQIxMQBzcnRjBmFwcF9pZAwzNTA2ODU1MzE3MjgAAR7o22GD9mtdJOkx8Q2-chZ2lj__SjTxOD7DUM6PRlk6bSMhzHRdB1baTcQrRw_aem_haIPnDJuUwDIaTmTXWT9Ig

12/06/2025

2027 RRSP Contribution Limits, 2026 MPP, DB, and DPSP limits

The 2027 RRSP contribution limit is increased 4.7% to $35,390 from the $33,810 limit for 2026.

The 2026 Money Purchase limit is $35,390, Defined Benefit is $3,932.22, and Deferred Profit Sharing Plan is $17,695.

https://www.taxtips.ca/rrsp/rrsp-mpp-dpsp-contribution-limits.htm -contribution-limit

11/15/2025

https://blog.ssa.gov/social-security-announces-benefit-increase-for-2026/

Social Security Cola is up 2.8% for 2026 payments

Social Security benefits and Supplemental Security Income (SSI) payments for 75 million Americans will increase 2.8 percent in 2026. On average, Social Security retirement benefits will increase by…

10/24/2025

Thanks for voting for us! We truly appreciate our clients!

10/24/2025

BREAKING! 75 million Americans will get a 2.8 percent increase in monthly Social Security benefits and SSI payments in 2026. Check our blog for more information: blog.ssa.gov/social-security-announces-benefit-increase-for-2026.

10/16/2025

As of April 2025, any non-US person entering the US with intention of staying longer than 30 days must have an I-94 on file. If you are flying, you are automatically issued an I-94, if you are driving or arriving by sea, you must apply for the I-94 after you enter the US via online application. The link below explains the process and requirements and is a good resource.

https://www.snowbirdadvisor.ca/guide-us-registration-requirements-canadian-snowbirds-spending-30-days-or-more-us?fbclid=IwdGRjcANd-CVjbGNrA134FWV4dG4DYWVtAjExAAEeM6MriJn2Kdxu59NWnpjnZShTf4kC4Q51qW2X47l03bEYzZZHeTKC5-_03CA_aem_sNZA34V__MGaHfWr3IuUSw

Beginning on April 11, 2025, Canadian travellers visiting the U.S. for 30 days or more at a time may need to register with U.S. Citizenship and Immigration Services. Here's what you need to know about the new rules...

10/14/2025

Moving forward, most US tax clients will need an ID.me for online accessing their accounts with IRS and Social Security Administration....

please review the link to learn how to set up your ID.me account if you are a US person with a SSN.
https://help.id.me/hc/en-us/articles/4415907236375-Verify-with-ID-me-if-you-live-outside-the-U-S-and-have-an-SSN

If you have an ITIN follow these instructions https://help.id.me/hc/en-us/articles/5976073273623-Verify-with-ID-me-using-an-Individual-taxpayer-identification-number-ITIN

Need to verify your identity with ID.me but live outside the U.S.? This article explains how non-U.S. residents with a Social Security number (SSN) can complete identity verification using accepted...

10/09/2025

🚨 Scam alert! 🚨

There is disinformation on websites claiming that the Government of Canada has introduced new benefits or payments.

There is:
⚠️No $680 payment for rent support
⚠️No $533 payment for inflation relief
⚠️No $3900 payment to help with the rising costs of essentials

Always verify information you read online about government benefits with official websites of the Government of Canada or your province or territory.

Stay up to date on the latest scams ➡️https://ow.ly/806x50X9lpF

[Image description: The word “scam” written on a green background with a notification bell.]

10/09/2025

Updated:
As of Sept 30 2025 paper cheque refunds from the IRS are no longer being processed. Anyone awaiting a refund may need to open a US based bank account to receive their refunds (this applies to anyone filing a US tax return, no matter your filing status).

We have found a few options for you to consider - but please speak to your bank prior to signing up to confirm it will work for your needs:

RBC Bank US - Cross Border US Account - https://www.rbcbank.com/cross-border/us-bank-accounts.html

TD Bank US - Cross Border Banking Account - https://www.td.com/ca/en/personal-banking/solutions/cross-border-banking

CIBC Bank US - Cross Border US Banking Account - https://www.cibc.com/en/personal-banking/ways-to-bank/cross-border-us-banking.html

WISE - https://wise.com/ca/account/

160 countries and territories. 40 currencies. One card. The foreign currency account for sending, spending, and receiving money like a local. Register today.

09/10/2025

Taxpayer Audits by CRA related to Foreign Income and Tax Credits

The CRA often audits taxpayers with foreign income and foreign tax credits. This is becoming more frequent for our clients and generally requires submission of proof of income and tax credits for which were applied to the tax return.

Please keep copies of your tax slips (we scan and return to clients each year with their tax package). Our office is able to upload these documents to the CRA on your behalf if requested (fee may apply), but it is up to our clients to provide the documentation requested by CRA.

We suggest that our clients photo copy any refund cheque you receive from the IRS or US state before cashing/depositing, and that you keep any deposit slip or bank statement showing your deposit.

If you made a payment to the IRS or a US state, you will need to supply proof such as bank statement showing tax liability withdrawal from your bank, or tax transcript.

We strongly recommend that you sign up for an online ID.me account to be able to access your IRS online account - which will have the requested IRS transcripts as well as show your account balances. If you filed a US state tax return, you will need to request a transcript or confirmation of filing and account balance from that state.

We have found that traditional methods of requesting transcripts/documents from the IRS are extremely slow. If you choose to request mailed transcripts (via request form which is mailed or faxed, or via online request) then the normal wait time in the past years has been 2-6 months, and you may never even receive the documents via postal mail at all.

Please note that If you fail to supply the requested information to CRA, they will likely deny your claim for any tax credits and you will receive a letter/bill from them for the changes made to your taxes owed due to the denial. Once you supply the proof of your claims, CRA often will reverse the penalties and interest on your account, but we do not guarantee this continued procedure by CRA.

09/02/2025

A lot of our US clients express frustration with having to file US tax returns and pay US tax - we get it! It's no fun.

There is a huge push by advocacy groups to encourage Congress to enact RBT (residency based taxation) - which was a campaign promise by the current US administration.

If you are interested in learning more, please visit Taxpayer Fairness for Americans Abroad to see how you can share your story or make donations to their cause as they prepare to have their proposal submitted to Congress for review - this group is not partisan and the link is only being shared as we have had many clients request this type of resource.

5 small things you can do to help right now We are just getting started, spreading the word that we exist, collecting overseas Americans’ stories about CBT, FATCA and FBAR reporting and collecting donations to help us deliver our messages in Washington, D.C. We could really use your help! Take a f...