6 US Form 1120 Filing tax and accounting engagements in full — what the client came to us with, what we did, and what it was worth. Each one is specific to us form 1120 filing work, not a general example.
Case Study 1 · Cash and remittance control
Instalments Rebased, $155,000 Of Cash Returned To The Business — Non-Resident Owning Canadian Rental, Guelph
Client: A non-resident owning Canadian rental property · Where: Guelph, Ontario · Engagement: 11 weeks, fixed fee
Cash returned$155,000
Instalment basisCurrent year
ReviewedQuarterly
The situation
A non-resident owning Canadian rental property in Guelph, Ontario was paying instalments calculated on a prior year that no longer reflected the business. Foreign accounts that had passed the $100,000 T1135 threshold three years earlier was tying up $155,000 of cash.
What we did
We rebased the instalments on the current-year estimate rather than the prior-year default, and filed the outstanding T1135 disclosures through the Voluntary Disclosures Program, which eliminated the penalty exposure entirely.
The result
$155,000 of cash stayed in the business, the penalty cycle ended, and the instalment position is reviewed each quarter against actual results.
Case Study 2 · Missed incentive claimed
Incentive Review Recovered $43,000 Across 7 Open Years — Canadian Corporation with US, Winnipeg
Client: A Canadian corporation with US customers · Where: Winnipeg, Manitoba · Engagement: 8 weeks, fixed fee
Recovered$43,000
Open years claimed7
Ongoing trackingIn place
The situation
An incentive review at a Canadian corporation with US customers in Winnipeg, Manitoba started from a simple question: what has never been claimed? The answer ran to 7 years, driven by foreign accounts that had passed the $100,000 T1135 threshold three years earlier.
What we did
We filed the section 216 election with the supporting rental statements and recovered the excess withholding as a refund, documenting eligibility to the standard a reviewer would apply rather than the standard a claim form requires.
The result
The credits produced $43,000 across the open years, and the tracking now in place means the following year's claim is documented as the work happens rather than reconstructed afterwards.
Case Study 3 · Sale and succession
$780,000 Sheltered By The Lifetime Capital Gains Exemption — Canadian Resident with a, Regina
Client: A Canadian resident with a US rental property · Where: Regina, Saskatchewan · Engagement: 10 weeks, fixed fee
Gain sheltered$780,000
ClosingOn schedule
Share qualificationMet
The situation
A Canadian resident with a US rental property in Regina, Saskatchewan had an offer on the table and 24 months to close. The shares did not qualify for the capital gains exemption, and no valuation on file to support the price the parties had agreed was part of the reason.
What we did
We purified the corporation so the shares met the qualifying tests, then restructured the US holding so the Canadian and US characterisations aligned, ending the double taxation going forward well ahead of the closing date.
The result
The sale closed on schedule with $780,000 sheltered by the lifetime capital gains exemption across the shareholders.
Case Study 4 · Deadline rescue
$110,000 Late-Filing Penalty Cancelled On Relief Application — Inbound Transferee on Assignment, Lethbridge
Client: An inbound transferee on assignment · Where: Lethbridge, Alberta · Engagement: 10 weeks, fixed fee
Penalty cancelled$110,000
Relief applicationGranted
ReturnAccepted as filed
The situation
An inbound transferee on assignment in Lethbridge, Alberta had already missed one deadline and was about to miss a second. Behind it sat a departure year filed as a normal resident return with no deemed disposition reported, and a penalty of $110,000 was accruing.
What we did
We split the work into what had to happen before the deadline and what could follow it, then reported the deemed disposition properly on the departure return and claimed the foreign tax credits that had been left unused.
The result
The outstanding return was accepted as filed, and the taxpayer relief application cancelled $110,000 of the penalty already assessed on the earlier year.
Case Study 5 · Scaling without breaking
Second-Province Expansion Handled, $47,000 Of Cash Released — Emigrant Who Left Canada, Hamilton
Client: An emigrant who left Canada mid-year · Where: Hamilton, Ontario · Engagement: 11 weeks, fixed fee
Cash released$47,000
New registrationsComplete on day one
Compliance gapsNone
The situation
Revenue at an emigrant who left Canada mid-year in Hamilton, Ontario was up sharply and cash was tighter than ever. Underneath it sat US tax paid but no foreign tax credit claimed on the Canadian return.
What we did
We filed the outstanding T1135 disclosures through the Voluntary Disclosures Program, which eliminated the penalty exposure entirely. Every new obligation — registration, remittance frequency, provincial filing — was set up before it was triggered, not after.
The result
$47,000 of cash was released from the working capital cycle, and the expansion completed with every registration and filing obligation covered from day one.
Case Study 6 · CRA review defended
Audit Defence Closed In 9 Weeks, $41,000 Cleared — Dual Citizen with a, Kitchener
Client: A dual citizen with a US retirement account · Where: Kitchener, Ontario · Engagement: 9 weeks, fixed fee
Proposed tax cleared$41,000
Review duration9 weeks
OutcomeNo change
The situation
A dual citizen with a US retirement account in Kitchener, Ontario was selected for review after foreign accounts that had passed the $100,000 T1135 threshold three years earlier showed up in the CRA's automated matching. The proposed adjustment on us form 1120 filing came to $41,000.
What we did
We filed the section 216 election with the supporting rental statements and recovered the excess withholding as a refund. Every figure in the response traced to a source record the auditor could verify without asking a second question.
The result
The review closed with no change. $41,000 of proposed tax came off the table, and the documentation now in place makes the next review a short one.
Reviewed for the 2025 tax year by Udit Gupta, Certified Tax Accountant. Figures describe representative engagements of this type; outcomes depend on your own facts. Client names and identifying details are omitted for confidentiality.
