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Starting January 1, 2015, the new Form W-8BEN-E, Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting (Entities), where applicable, should be used by foreign (non-US) entities to prevent or reduce US withholding tax at source. Going forward, the former W-8BEN can only be used by individual taxpayers. AG Tax analysts...
In August 2013, the Supreme Court announced its decision to the Windsor v. United States Court case recognizing same-sex couples to be treated as married for all federal tax purposes (i.e. income, gift and estate taxes) even if the married couple resides in a state that does not recognize same-sex marriage bringing an end to...
The Canadian Government has introduced various international trade programs, many of which make it easier for corporations to enter into trade with Canada. AG Tax professionals have prepared an overview on the three most trade-supportive programs provided in Canada, which may be useful for anyone who currently performs, or plans to carry out, international trade....
On November 14, 2013, Rep. Jim McDermott introduced a new bill entitled the “Internet Gambling Regulation and Tax Enforcement Act of 2013 (H.R.3491)”. If passed, this bill will amend the Internal Revenue Code of 1986 and regulate taxes on internet gambling, especially the highly trending online poker games. The Internet Gambling Regulation and Tax Enforcement...
For a U.S. taxpayer, gifts made to, and estates left to, grandchildren and great-grandchildren are subject to the Generation Skipping Transfer (GST) Tax, along with Gift Tax and/or Estate Tax. In order to answer the question of why gifts or bequests made to a grandchild need to be taxed additionally, our tax professionals have prepared...
In the U.S., gifts between spouses, who are both U.S. citizens, are non-taxable. However, when one of the spouses is a non-resident alien, the tax rules can vary and the situation can become complex. As the U.S. gift tax rules can be confusing, the tax professionals at AG Tax have prepared a general overview of...
We posted an article earlier this year regarding the requirements for individuals who have to disclose their RRSP or RRIF accounts to the IRS to elect the deferral of any accrued income. One of the covered topics was the late filing of disclosure Form 8891. The IRS has just released a Private Letter Ruling (PLR, a...
With the year-end approaching and the holiday season along with it, gifts are on everyone’s mind. However, for a U.S. taxpayer, giving and receiving gifts beyond a certain limit is taxable by the Internal Revenue Service (IRS). AG Tax professionals will now explain Gift Tax and its related thresholds, returns and penalties, which may be...
The Internal Revenue Service (IRS) sends out letters and notices to taxpayers for various reasons. AG Tax recommends taxpayers to not ignore these notices, as interest and penalties could be assessed depending on the circumstances for which the letter was sent. AG Tax professionals have prepared a brief summary on a few of the common...
The Internal Revenue Service (IRS) has recently introduced a 3.8% surtax on certain ‘unearned income’ of individuals, trusts and estates, which will be levied on income from January 1, 2013 onward. Taxpayers who meet the requirement will need to pay this tax. As it is a newly introduced tax, AG Tax professionals have prepared a...
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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.OFFICEVancouver
+1 (888) 502-1810New South Surrey office coming January 2025ABOUTAG 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
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