Canadian residents who aren’t U.S. citizens may be surprised to know that U.S. estate tax can apply to them
Case demonstrates why to report on both sides of the border
Problems for Canadian residents who inherit from U.S. trusts
Whether for ideological reasons or tax complications, many people want to shed their U.S. citizenship.
The Clintons earned more than US$10 million in 2015, according to their tax return. Find out more about their investments and tax rate.
New rules target delinquent taxpayers
Expect changes to some offshore tax reporting forms and more IRS guidance on how to fill them out
But with careful planning, you can keep U.S. taxpayer clients’ PFIC headaches to a minimum.
U.S. clients in Canada have a bit of extra time to get their taxes in order next year. But what are their chances of being audited?
Your clients with U.S. citizenship will need to be more vigilant about filing U.S. taxes.