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Foreign Account Tax Compliance Act (FATCA) Seminars for US Persons in Canada

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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We’ve added FATCA Seminars for Vancouver

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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Will FATCA Be Implemented in Canada?

01/01/1970
Some commentators have suggested Canada’s recently signed Intergovernmental Agreement (“IGA”) with the US violates Canada’s Charter of Rights. If they are right and the IGA is implemented, it may be overturned by Canadian courts. The IGA is an agreement that modifies the US’s Foreign Account ...
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2013 Changes to the US Individual Taxpayer Identification Number ID requirements

01/01/1970
Have you earned income from the U.S., or perhaps sold a personal property in 2013? If so, there is a very good chance you will need to file a US income tax return. In order to do so, you will be required to obtain either ...
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US Tax Confusion for US Persons in Canada

01/01/1970
Many U.S. persons living in Canada are angry, scared or confused about their US tax obligations and the new Foreign Account Tax Compliance Act (“FATCA”). The internet is buzzing with stories of massive penalties, crippling professional fees and denied entry into the U.S., some of ...
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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 ...
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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 ...
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US Vacation Home Rules

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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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 ...
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US Informational Reporting Requirements for Canadian Corporations with US Business Activities

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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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.

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