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IRS Streamlined Procedures – Update on Non-Residency Requirements

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 last three years may disqualify snowbirds, business travelers and frequent […]

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US Tax Confusion for US Persons in Canada

July 31, 2014

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 […]

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Internal Revenue Service announces changes to Streamlined Programs

June 18, 2014

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 as the “Streamlined Foreign Offshore Procedures” or “Streamlined Domestic Offshore […]

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Will FATCA Be Implemented in Canada?

May 12, 2014

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 Tax Compliance Act (“FATCA”). FATCA and the IGA FATCA is […]

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