Archives for Canada Us Tax

rrsp-upon-death-of-the-owner-inherited-by-a-canadian-or-non-resident

RRSP Implications Upon Death

Recently there has been a surge in the number of clients inquiring about the taxation of inherited qualified accounts, such as: Registered Retirement Savings Plan (RRSP), and Registered Retirement Income Fund (RRIF). Individuals are confused on whether to liquidate the...
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Beware that your Non-U.S. Financial Institutions May Be Sharing Your Financial Account Information with the Internal Revenue Service

The Foreign Account Tax Compliance Act (FATCA) was enacted by the United States (U.S.) Congress in March 2010 to prevent U.S. persons/taxpayers from evading taxes by using foreign accounts. Under FATCA regulation individuals are required to provide full details of...
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Medicare Tax Changes for 2013

We have received a many inquiries recently regarding tax planning for next year. There was uncertainty as to what the tax outcomes would be during the presidential election. Since the re-election of President Barack Obama, one of the most important new...
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IRS OVDI News

United States Department of Justice: Offshore Compliance Initiative News August 3 2011 UBS Client Pleads Guilty to Filing False Tax Return August 2 2011 Former UBS Banker Charged with Helping U.S. Taxpayers Use Secret Swiss Bank Accounts to Evade U.S....
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Three Weeks Left for 2011 OVDI

The 2011 Overseas Voluntary Disclosure Initiative expires on August 31, so there is now less than three weeks left for non-compliant US taxpayers to come forward and disclose previously unreported overseas accounts and assets under the 2011 OVDI (Overseas Voluntary...
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