There are many similarities between the U.S. and Canada, but there are some significant distinctions between U.S. and Canadian tax law especially for U.S. citizens resident in Canada, including permanent residents of the US (“green-card” holders). For the unwary those distinctions may result in substantial U.S. tax liabilities where those differences are not identified in […]

There has been a lot of attention in the media about U.S. citizens who live in Canada and their U.S. tax filing obligations. Non-U.S. citizens who are not resident in the U.S. (“NRA” for non-resident aliens) may also have U.S. tax filing obligations where they work in the U.S., sell U.S. real estate or even […]

U.S. citizens and lawful permanent residents (green card holders) who hold certain investments may unknowingly be subject to adverse US tax implications where the investments are characterized as investments in Passive Foreign Investment Companies (“PFICs”). PFICs include non-U.S. mutual funds and exchange traded funds (ETFs) which are typically organized as corporations or trusts in Canada. […]