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The IRS issues long-awaited good news for US persons regarding reporting and filing requirements for Canadian tax-favored foreign trusts
ALERT: IRS Revenue Procedure 2020-17, issued March 2, 2020, provides guidance and relief for eligible US persons regarding tax-favoured (Canadian) foreign trusts including RESPs and RDSPs.
Read MoreU.S. Federal Income Tax and Information Reporting Relief Procedures for Certain Former U.S. Citizens
January 21, 2020On September 6, 2019, the Internal Revenue Service (“IRS”) announced new U.S. tax relief procedures for certain former U.S. citizens.
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900,000 Canadian Bank Records Were Recently Sent to the IRS – What you Need to Know
November 15, 2019Sharp increase in records sent to the IRS under the Canada-U.S. information sharing deal.
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Extending the U.S. Tax Filing Deadline
April 8, 2013Mention the date April 15th to a U.S. person and their first thought probably turns to taxes. Individuals who are required to file a US income tax return are generally required to file their return on or before April 15th provided that the date falls on a weekday. In years when the 15th falls on […]
