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While you were away
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 a cross-border environment. Internal Revenue Service – Streamlined Program Changes […]
IRS Streamlined Procedures – Update on Non-Residency Requirements
July 31, 2014On 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 last three years may disqualify snowbirds, business travelers and frequent […]
US Tax Confusion for US Persons in Canada
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 which may be partly true. Contrary to the internet, most […]
Internal Revenue Service announces changes to Streamlined Programs
June 18, 2014On 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 as the “Streamlined Foreign Offshore Procedures” or “Streamlined Domestic Offshore […]
