December 10, 2012 - U.S. tax policies to change financial picture for snowb
“The biggest one that we have to keep an eye on right now is the estate tax on the value of U.S. assets,” said Michael W. Brooks, an attorney specializing in cross-border tax issues and transactions
September 24, 2012 - Taxing move could end 'quiet disclosure'
the United States taxes on citizenship, rather than residency, as Canada does. That means Americans all over the world are subject to these rules, not just the estimated one million Americans living in Canada.
August 30, 2012 - Canada – IRS releases competent authority agreement regar
The US Internal Revenue Service (IRS) has released IRS Announcement 2012-31 with the official text of the recent competent authority agreement between the United States and Canada
August 22, 2012 - Canada And The United States, A Singular Partnership
On February 4, 2011, Prime Minister Stephen Harper and President Barack Obama issued a Declaration on a Shared Vision for Perimeter Security and Economic Competitiveness calling for the development of a joint action plan.
August 13, 2012 - Trying to fool IRS not smart
the Fourth Circuit Court of Appeals in Virginia overturned a lower court's decision and found former Mobil Oil Corp. senior executive Bryan Williams liable to pay two civil penalties of US$100,000 each for failure to report his interest in two foreign bank accounts for the 2000 tax year.
the Fourth Circuit Court of Appeals in Virginia overturned a lower court's decision and found former Mobil Oil Corp. senior executive Bryan Williams liable to pay two civil penalties of US$100,000 each for failure to report his interest in two foreign bank accounts for the 2000 tax year.
lower court's decision and found former Mobil Oil Corp. senior executive Bryan Williams liable to pay two civil penalties of US$100,000 each for failure to report his interest in two foreign bank accounts for the 2000 tax year.
Read more: http://www.timescolonist.com/news/Trying+fool+smart/7076693/story.html#ixzz23Qiik368
July 17, 2012 - Canada's favorite tax haven? The U.S.A.
A 70-year-old tax treaty between the U.S. and Canada allows people emigrating from Canada an even better tax rate that people who have lived here all their lives.
June 27, 2012 - U.S. IRS offers reprieve to expat tax filers
Many Americans living abroad will get a small reprieve from U.S. Internal Revenue Service rules on reporting foreign assets, the agency announced on Tuesday.
June 27, 2012 - Tax amnesty offered to Americans in Canada
The United States has announced details of a long-promised amnesty program for the millions of Americans living in Canada and offshore – many who haven’t filed taxes for years.
June 27, 2012 - IRS Cuts Middle Class Expats Big (And Deserved) Penalty Bre
The Internal Revenue Service today issued new rules granting a penalty break to some U.S. expats and dual citizens who have been unfairly caught up in the harsh U.S. crackdown on secret foreign bank accounts and offshore tax evasion.
June 7, 2012 - Ruling Canadian RRSP
Taxpayer request the consent of the Commissioner of the Internal Revenue
Service for an extension of time under Treas. Reg. § 301.9100-3 to make an election pursuant to Rev. Proc. 2002-23, to defer U.S. federal income taxation on income accrued in their RRSPs, as provided for in Article XVIII(7) of the Treaty for Tax Years .
June 5, 2012 - Note to Americans living in Canada (and snowbirds too): Don'
The U.S. Customs and Border Protection Service and the IRS continue to expand their computer connections. They will soon be asking the question, 'Have you filed your tax return?' to visiting U.S. citizens.
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May 21, 2012 - Snowbirds, Americans living in Canada read on..
This column is of special interest to snowbirds, but also to Americans who have moved to Canada. There is a positive change to Canada Revenue policy on transfers of 401K or IRA plans to Canada.
May 16, 2012 - Canadian bankers fight Washington
the IRS has received as many as 350 submissions from 30 countries – according to the Canadian Bankers’ Association – about the burdensome paperwork that will soon be demanded.
May 14, 2012 - Facebook co-founder Eduardo Saverin’s taxing connection to U
The U.S., which uniquely demands tax reporting from American citizens wherever they reside, has sparked the ire of nations including Canada with a push to target tax evaders offshore and to impose new reporting requirements on financial institutions with operations in the U.S.
May 10, 2012 - Ottawa, U.S. negotiating change to tax reporting
Ottawa is in talks with the Obama administration to temper a sweeping law that requires Canadian financial institutions to report their American customers directly to U.S. tax authorities.