COVID-19 Letter to Our Clients
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.
American Expats: You Have to File Your FBARs By October 15, 2020
If you’re an American expat with a foreign bank account, you may have special reporting obligations with the U.S. Department of Treasury. This reporting obligation is focusing on the disclosure of your foreign – non-U.S. financial assets and bank accounts,…
IRS Payments Can Be Delayed 90 Days, Mnuchin Announces
Author(s): TaxNotes® staff The following article first appeared in TaxNotes, Tuesday, March 17 2020.
Claim your penalties back this tax season! TFSA and RESP accounts may no longer require Form 3520/3520-A reporting …
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, likely including TFSA and RESP accounts. Rev.…
Uncle Sam is Calling: How to Smoothly File Your U.S. Tax Returns From Canada (2020 Edition)
The U.S. tax season is in full swing! If you are a U.S. expat living in Canada or a Canadian businessman with U.S. source income, you will most likely need to file a U.S. federal tax return in 2020. Importantly,…
Danilov & Partners announces collaboration with U.S. Tax IQ Ltd.
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…
Is Your ITIN Expiring? Here’s Why You Should Renew It Today!
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,…
Tax planning essential for Canadian owners of U.S. property
Author(s): AdvocateDaily.com staff The following article first appeared in AdvocateDaily.com, July, 2019.
Are You Fully Compliant? 5 Great Reasons to Go to a U.S. Tax Advisor!
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…
Tax compliance crucial for online businesses selling into U.S.
Author(s): AdvocateDaily.com staff The following article first appeared in AdvocateDaily.com, May 30, 2019.