News and Events

Not filing U.S. tax forms serious for Americans in Canada 10.05.19

It’s been nine years since the Foreign Account Tax Compliance Act (FATCA) was passed in the United States, and almost five since the U.S. and Canada entered into an intergovernmental agreement to share tax-related information. Americans who live in Canada should know now that they are required to file a U.S. tax return and other information returns annually.

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Looming IRS change could impact doing business in U.S. 24.04.19

On March 27, the Internal Revenue Service announced that only individuals with tax identification numbers may request an Employer Identification Number (EIN) as the “responsible party” on the application. 

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Beware misconceptions about U.S. residency rules 11.03.19

We’re in the throes of winter and countless Canadians spend time in Florida. But Snowbirds have a common misconception that they are limited to a stay of six months in the United States for any calendar year.

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Fighting for the tax payer: Top Ten Tax Boutiques 29.01.19

Mark Twain said the only difference between a tax man and a taxidermist is that the taxidermist leaves the skin. Advocating on behalf of the leftovers are the winners of Canadian Lawyer’s top tax law boutiques list, whose lawyers say they are focused on federal fiscal policy changes, at home and in the United States.

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23 countries where money can buy you a second passport or 'elite residency' 29.01.19

The super-rich are no longer just spending their money on private jets, yachts, and hotels — they're also splashing out on second passports.

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U.S. tax changes could effect Canadians 05.11.18

Recent U.S. tax changes designed to repatriate the profits of large corporations such as Apple are subjecting American citizens living in Canada who hold shares in closely held corporations to punitive tax measures and potentially double taxation, say Ontario lawyers.

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Trump's tax changes hit U.S. residents of Canada, dual citizenship holders 11.09.18

Recent tax changes in the United States can have huge implications for Canadian residents with U.S. or dual U.S.-Canadian citizenship.
 
The Tax Cuts and Jobs Act of 2017 introduced a new Internal Revenue Code Section 965. It levies tax on post-1986 deferred foreign income of deferred foreign income corporations (DFICs) as of Nov. 2, 2017, or as of Dec. 31,2017, whichever is greater.  

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Tech and Taxes: From robots to the universal basic income 27.08.18

This article was originally published by The Lawyer’s Daily (www.thelawyersdaily.ca), part of LexisNexis Canada Inc.     

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The pros and cons of renouncing U.S. citizenship 30.04.18

U.S. President Donald Trump signed off on the Tax Cuts and Jobs Act, which marked the first significant overhaul of U.S. tax law since the Reagan era. Although the Act lowered the tax rate for most Americans, the new rules may have a negative effect on a number of Americans abroad and may also provide an incentive to those who want to renounce their U.S. citizenship.

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Federal Court of Appeal reverses Tax Court decision on litigation expenses 02.04.18

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