1. Do you have tax filing obligations with the IRS for the 2020 tax year? As an American expat, cross-border tax matters are often complex and typically require the services of a qualified U.S. tax return preparer. It’s important to…
FinCEN Clarifies FBAR Extensions ( Learn More )
It’s 2020 and more and more people are embracing the power of scaling up their business in the digital realm. In fact, as of 2018, e-commerce retail transaction sales in Canada were valued at C $1.6 billion (C $1.85 billion…
Author(s): Thomson Reuters/Tax & Accounting The contents of this client letter are based on the Client Letter provided by Thompson Reuters | Checkpoint research database.
Yesterday, March 2, the IRS has provided a long-awaited relief from reporting on Form 3520-A and 3520 and associated penalties to dual U.S./Canadian citizens and Green card holders with certain “tax-favored foreign” arrangements. Rev. Proc. 2020-17 discusses eligible U.S. citizens…
The U.S. tax season is in full swing and knowing how to file U.S. taxes from Canada is crucial. If you are a U.S. expat living in Canada or a Canadian businessman with U.S. source income, you will most likely…
Danilov & Partners is pleased to announce the collaboration with U.S. Tax IQ in the area of U.S. tax and cross-border tax planning and consulting. U.S. Tax IQ is a tax boutique firm specializing in U.S. and international tax focusing…
Attention taxpayers, here’s why you should renew your expiring ITIN prior to filing tax returns in 2020. Individual Taxpayer Identification Number (ITIN) The ITIN is a U.S. tax processing number used to file a U.S. tax return with the IRS,…
Author(s): AdvocateDaily.com staff The following article first appeared in AdvocateDaily.com, July 2019.
You work hard for your money. Naturally, you want to keep as much of it as possible when you file your taxes. If you’re an individual filing a simple U.S. tax return, you can likely file your own taxes without…