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Now is the time for some year-end mutual fund and ETF planning!

Andersen 01/01/1970
If you are a U.S. citizen living abroad, you have undoubtedly heard about some of the U.S. tax issues and challenges associated with Canadian mutual funds and exchange traded funds (“ETFs”) which are generally considered to be “passive foreign investment companies” (“PFICs”). If you have ...
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US Informational Reporting Requirements for Canadian Corporations with US Business Activities

Andersen 01/01/1970
In addition to filing a U.S. federal income tax return, Canadian corporations engaged in a US trade or business or 25% Canadian-owned U.S. corporations may have a requirement to file IRS Form 5472, Information return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation ...
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US Vacation Home Rules

Andersen 01/01/1970
Many Canadian residents took advantage of the depressed US housing market and the strong Canadian dollar during the last few years and have purchased vacation homes in the U.S. Some of these individuals will use their US homes exclusively for their own enjoyment while others ...
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Internal Revenue Service announces changes to Streamlined Programs

Andersen 01/01/1970
On June 18th, the Internal Revenue Service announced changes to the Offshore Programs to help ease the tax reporting compliance burden on delinquent taxpayers and assist more taxpayers to come forward to get their U.S. tax return filing obligations up to date. Now referred to ...
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We’ve added FATCA Seminars for Vancouver

Andersen 01/01/1970
On July 1, 2014 the Foreign Account Tax Compliance Act will require Canadian financial institutions to report accounts held by U.S. persons to the IRS. If you are a U.S. person who has not filed U.S. tax returns you may have significant exposure to tax, ...
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Press Release: FATCA and Non-U.S. Filers, the odds of the IRS finding you are increasing

Andersen 01/01/1970
FOR IMMEDIATE RELEASE MEDIA CONTACTWarren DueckW.L. Dueck & Co LLPwdueck@wldtax.com604.242.1401 FATCA and Non-U.S. Filers, the odds of the IRS finding you are increasing March 27, 2014 (Vancouver and Calgary) Tax announcements don’t usually get the same attention as the Olympics, politics or other stories that ...
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Foreign Account Tax Compliance Act (FATCA) Seminars for US Persons in Canada

Andersen 01/01/1970
Are you a U.S. person who has not filed a U.S. tax return? The recently signed Foreign Account Tax Compliance Act (FATCA) agreement between Canada and the U.S. will require Canadian financial institutions to report accounts held by U.S. persons to the US Internal Revenue ...
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Washington Business and Occupation Tax

Andersen 01/01/1970
Many Canadian businesses are unaware of the Washington Business and Occupation (“B&O”) Tax when they do business with customers in the State of Washington. The B&O tax is a gross receipts tax levied by various levels of government in Washington. It is calculated based on ...
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Revised CRA Form T1135 – CRA Provides Filing Deadline Extension for 2013 Filers

Andersen 01/01/1970
For the 2013 tax year the Canada Revenue Agency released a revised Form T1135 to report specified foreign property where the cost amount exceeded Cdn$100,000 at any time in the year. This revised form requires detailed reporting of each foreign property as opposed to the ...
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Consulting in the U.S. – Planning in advance well worth it

Andersen 01/01/1970
Independent consultants in Canada will often incorporate their practice in order to offer some liability protection not otherwise achieved through a sole-proprietorship structure. From a Canadian income tax perspective, the incorporated consultant will often make the choice between compensating himself by way of salary or ...
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The member firms of Andersen in Canada focus on Canadian, international and Canada-U.S. cross-border tax matters. With offices across Canada, our tax professionals work with a broad range of businesses and individual clients to develop innovative tax solutions for a diverse range of issues. Our senior leaders and many of our professional staff have extensive experience in Canadian, international, U.S. and cross-border tax matters with major international accounting firms, as well as practical experience working with businesses and individuals.

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