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Cross-Border Tax Compliance Primer - Canadian Businesses With U.S. Business Activities

[Part 2] – Cross-Border Tax Compliance Primer – Canadian Businesses with U.S. Business Activities

Part I
Part III

On February 23, 2021, at 12:00 pm (Eastern Time), join us for a webinar with Alexey Manasuev, LL.M. (Int’l Tax), NYU, TEP, Principal of U.S. Tax IQ, who will discuss key aspects of U.S. tax and cross-border tax compliance for businesses. This is Part 2 of a Three-Webinar Series that U.S. Tax IQ is offering to our clients and webinar registrants so that they can best prepare for the 2021 tax season. For both businesses and individuals, compliance with an increasing number of tax rules and more rigorous enforcement by tax authorities continues to be a significant challenge. It is important to understand the applicable rules and requirements, as well as how to proactively ensure that you remain compliant with the cross-border tax filing and reporting requirements, especially because of significant penalties for non-compliance or late filings.

 

Topics Covered in This Webinar

Doing business in the United States usually means access to a bigger market and higher revenues. But it also makes the management of overall business and the U.S. segment much more complicated. Taxes make it even more complex. The U.S. tax law is very complex and is ever evolving. We are yet to see how the new Biden Administration and U.S. Congress would change the existing tax framework, but higher taxes are likely expected. There are many traps for the unwary, and the IRS imposes significant penalties on businesses that fail to comply with the applicable U.S. tax filing and reporting framework. Having a good understanding of applicable tax filing deadlines and associated U.S. tax filing and reporting requirements, based on various transactions, may be a difference between staying fully compliant and being subject to hefty penalties. In this webinar, we would attempt to provide a primer on U.S. international tax compliance for foreign businesses.

Here’s just a sample of what we’ll cover during this webinar:

  • Overview of U.S. taxation framework of Canadian businesses;
  • Key U.S. international tax compliance requirements and forms for Canadian businesses with U.S. business activities;
  • Traps for the unwary, commonly missed forms, and typical filing errors and issues, including the “power” of “protective” filings;
  • The process of obtaining Employer Identification Number (EIN) for Canadian businesses and their U.S. affiliates;
  • Common penalties for noncompliance;
  • Practical tips and considerations;
  • … and more;

Who Will Benefit From Attending This Webinar?

This webinar is intended for business owners, businesses, their trusted advisors and tax professionals. The content is especially relevant to U.S. tax and Canadian tax advisors who are assisting their clients in addressing U.S. tax and cross-border tax implications.

 

To learn more, please register and gain the knowledge you need to help your clients prepare for their 2020 tax filings and effectively manage their potential U.S. tax exposure. Plus, you can earn up to 1 CPD credit (relevant to Canadian CPAs).  We hope you join us!

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