Wish Kwok Associates

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”]

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

public-inspection.federalregister.gov

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

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

Social Security Cola is up 2.8% for 2026 payments

Social Security Announces 2.8 Percent Benefit Increase for 2026  | SSA 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…

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

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.

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

Guide to U.S. Registration Requirements for Canadian Snowbirds Spending 30 Days or More in the U.S. 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...

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

Verify with ID.me if you live outside the U.S. and have an SSN 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...

🚨 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

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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/

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