November 26, 2013 - Banks Forced to Comply With US Regulators Despite Not B
Canada is the latest nation to watch with bated breath as its leaders near an agreement with The United States Internal Revenue Service (IRS) for its banks to surrender records detailing the identities of suspected American tax cheaters.
November 25, 2013 - Canadian banks to be compelled to share clients' info w
The Foreign Accounts Tax Compliance Act, or FATCA, was passed by the U.S. Congress in 2010 and comes into force July 1, 2014.
October 3, 2013 - How Canadians, too, can fend off the long arm of the IRS
Now, just because you may be a Canadian citizen and resident, you’re not immune to the reach of the Internal Revenue Service (IRS) south of the border. U.S. estate tax can apply on different types of U.S. assets, with the most notable being U.S. real estate.
May 10, 2013 - axman may have a bead on offshore tax havens, government say
The Canadian government says it may be getting access to 2.5 million files on offshore tax havens that were leaked to the media last month.
May 10, 2013 -Offshore tax-evasion probe to give feds access to Canadian in
The three countries announced an investigation Thursday into offshore trusts and companies — in tax havens such as Singapore, the British Virgin Islands, Cayman Islands and Cook Islands — that were used to “conceal assets by wealthy individuals and companies.”
May 10, 2013 - Canada left out of tax probe into leaked offshore data
The U.S., Britain and Australia announced Thursday they've launched what could be the biggest ever international investigation into tax cheats, using what is believed to be largely the same massive leak of offshore financial records revealed last month by the CBC and other global media outlets.
April 30, 2013 - Canada to Bitcoin Miners: "Pay Yer Taxes"
With Bitcoin cash value increasing five-fold to around $250 USD/Bitcoin in April, the Canada Revenue Agency is salivating at the prospect of extra taxes from its domestic miners/traders.
April 22, 2013 - The ticking time bomb of tax liability for Americans in Ca
This article outlines some of the tax issues faced by U.S. citizens living in Canada.
April 10, 2013 - Ottawa Threatens To Use Courts In Bid To Get CBC Tax Evasi
"We will pursue any legal options that we do have to obtain the list and we are working with the United States and our other international partners to do so," s
April 8, 2013 - Americans in Canada can face complex tax situation
About 1 million Canadian residents are "U.S. persons" who are required by U.S. law to file U.S. tax returns as well as Canadian tax returns.
March 4, 2013 - IRS Issues PLR on RRP
are granted an extension of time until 60 days from the date of this ruling letter to
make elections for Tax Years under Rev. Proc. 2002
January 8, 2013 - U.S. system may be nasty and noisy, but at least taxpayer
After this week, many Americans will pay higher taxes on dividends than Canadians as well as higher corporate taxes, estate taxes and gift taxes.
January 8, 2013 - IRS wants Canada to nab U.S. tax cheats: Why we should ca
the Harper government is in the middle of negotiations with the U.S. to produce an intergovernmental agreement (IGA) that would impose U.S. tax law on Canada and turn Canadian banks into IRS auditors.
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.