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The U.S. Internal Revenue Service requires U.S. employers and U.S. Health Insurance Marketplace to issue health insurance coverage information forms to the insurance holder (employee) and send a copy of the form to the IRS as well. The deadline for sending these forms to the IRS is 28th February, if paper-filed and 31st March, if...
Along with the changes to IRS Form W-2 for tax year 2016 and thereafter under the Protecting Americans from Tax Hikes (PATH) Act of 2015, there have been changes to the deadline and penalties associated with IRS Form 1099-Misc, and Form 1099-K as well. The following is an overview by A.G. Tax analysts on the...
Last year, due to the Protecting Americans from Tax Hikes (PATH) Act of 2015, the Internal Revenue Service (IRS) updated the deadlines for some of the tax forms. This affected the filing and extension deadline for Forms W-2 for the 2016 tax reporting year. The new due dates apply to IRS Forms W-2, W-2AS, W-2CM,...
The Internal Revenue Service (IRS) recently announced that the U.S. tax filing season will begin Monday, January 23rd, 2017. Additionally, the tax authority also reminded taxpayers about the changed deadline for various U.S. tax forms and delay in certain tax refunds due to the Protecting Americans from Tax Hikes Act (PATH). With the 2017 tax...
As discussed in our earlier article: Newly Introduced 15% Property Transfer Tax In Greater Vancouver, BC we mentioned that property transfers involving foreign entities would be subject to an additional 15% property transfer tax. In response to this previous article we have had many clients inquiring about situations in which they may be exempted from property...
The IRS will start accepting 2016 tax returns from 23rd January onward. Amongst the various tax points to keep in mind this tax season, here are a few important things to do before the U.S. Tax Filing Season. Maximize Your IRA and/or 401(k) Contributions Workplace contributions for the tax year 2016 must be made before...
In our recent article, we summarized the major proposals that President-elect Trump and House of Republicans plan to implement as one of their top priorities when forming the new government in early 2017. Taxpayers who believe these tax proposals will be in place for 2017, should make some year-end tax plan(s) to take advantage of...
Until 2014, U.S. taxpayers, who owned Canadian retirement plans, such as: Registered Retirement Savings Plan (RRSP) or a Registered Retirement Income Fund (RRIF) were required to file Form 8891, U.S. Information Return for Beneficiaries of Certain Canadian Registered Retirement Plans to report their interest in their qualified Canadian retirement accounts. In addition, this Form was...
One of the common misconceptions of U.S. taxpayers is that if they earn less than the FEIE amount, no return is required. This is wrong!! In fact, only a qualifying individual with qualifying income may elect to exclude foreign earned income, and the qualifying exclusion applies only if the qualifying individual files a tax return...
In our earlier article, we highlighted the tax plan for individual taxpayers as proposed by U.S. President-elect Donald Trump and the House of Republicans. In this article, our main focus is to detail out proposed business tax changes. While tax changes for individuals focus on improving the tax system for low-mid income group taxpayers, the...
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ABOUTAylett Grant Tax, LLP
With offices across Canada, we are positioned to manage and process the full scope of your Canadian, US and US Canada cross-border tax filing needs.ABOUTAG Tax LLP
With offices across Canada, we are positioned to manage and process the full scope of your Canadian, US and US Canada cross-border tax filing needs.OFFICEVancouver
12752 28th Ave, Surrey, BC, V4A 2P4OFFICEEdmonton
104–4220 98 St NW Edmonton AB, T6E 6A1