Worldwide Locations:
Edit Content

Share

LinkedIn
X
Facebook
WhatsApp
Skype
Email
Print

Categories

New Foreign Income Reporting Requirements for Canadian Taxpayers: An Update

10/28/2013
In an earlier blog post, we discussed the new Stop International Tax Evasion Program and the fact that Canada Revenue would be redesigning its Form T-1135, Foreign Income Verification Statement. Canada Revenue has now released the new T-1135 form outlining the new reporting requirements for ...
Read More »

US Federal Income Tax – Gains on Sale of your Home Part 1

12/14/2012
Generally, Canadians living in Canada are not subject to tax on gains from the sale of their principal residence. However, for a Canadian resident who is also a U.S. citizen or resident (including permanent resident or “green-card” holder and those meeting the “substantial presence” test), ...
Read More »

Update on IRS Streamlined Procedures – Non-residency Requirements

01/01/1970
On October 13, 2014, the Internal Revenue Service issued further guidance to their revised rules and guidelines on the Streamlined Procedures. We previously wrote about the IRS Streamlined Procedures and a link to our previous blog entry is here http://wldtax.com/internal-revenue-service-announces-changes-streamlined-program In June 2014 when the ...
Read More »

Canadian Covid-19 Small Business Tax Relief; Much Ado About Nothing

01/01/1970
The Canadian federal government has announced its response to the Covid-19 Pandemic and is implementing a number of measures to help the economy.[1] In terms of cost, the largest of these measures are designed to increase liquidity and help Canadian firms maintain access to credit ...
Read More »

Strafford – Form 8621 PFIC Presentation January 5, 2017

01/01/1970
I am pleased to announce that I will be speaking in an upcoming Strafford live webinar, “Form 8621 PFIC Reporting: Navigating the Highly Complex IRS Passive Foreign Investment Company Rules” scheduled for Thursday, January 5, 1:00pm-2:50pm EST. Because of your affiliation with my firm, you ...
Read More »

Changing Canadian and U.S. Tax Law

01/01/1970
Feedback is a valuable tool for improvement. Whether you are a student seeking advice from a teacher, a professional listening to clients to upgrade service or a young point guard looking to beat a press (pass the basketball instead of dribbling it), we can all ...
Read More »

Foreign Bank Account Reporting Forms

01/01/1970
March means different things to different people. Spring flowers. Longer days. College Basketball. It’s also a time people start to think about their own income tax returns. Deadlines arise in the spring and March 15th is just one such deadline for some U.S. corporations and ...
Read More »

US Federal Income Tax – Gains on Sale of your Canadian Home Part 2

01/01/1970
When an individual ceases to be a resident of Canada, he is deemed to have sold his worldwide assets (with some exceptions) and is subject to Canadian tax on any accrued gains in the year he emigrates from Canada. While Canadian real properties are not ...
Read More »

While you were away

01/01/1970
The weather this summer in the Lower Mainland was one of the best in memory. So while you (and us) were busy on the water or on the golf course, both countries were busy changing and tweaking tax laws as they apply to individuals in ...
Read More »

IRS Streamlined Procedures – Update on Non-Residency Requirements

01/01/1970
On June 18th, the IRS released revisions to the Streamlined Procedures. Our June 19th blog entry summarized these changes and raised concerns over the non-residency requirement. In particular, the requirement that a person spend more than 330 days outside the U.S. in each of the ...
Read More »

Contact us to learn how we can assist you

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.

Contact Us