Congress is considering giving Americans in Canada an incredible tax break

Stay tuned, and call me if you have questions: Charles M. Bruce: This change would align U.S. rules with that of just about every other country in the world The U.S. Congress has been mulling changes in the way American individuals abroad are taxed.Canadian Press Special to Financial Post November 7, 2017 10:26 AM EST…

The income tax started as a conservative political stunt

The income tax started as a conservative political stunt CHRISTINA STERBENZ FEB. 3, 2015, 7:20 PM ourdocuments.govThe original 1040 income tax form The US officially adopted the federal income tax 102 years ago today. The Supreme Court had ruled in 1895 that the income tax violated Article I of the Constitution, so the amendment was necessary to empower the federal government…

Report of Foreign Bank and Financial Accounts (FBAR)

If you have a financial interest in or signature authority over a foreign financial account, including a bank account, brokerage account, mutual fund, trust, or other type of foreign financial account, exceeding certain thresholds, the Bank Secrecy Act may require you to report the account yearly to the Internal Revenue Service by filing electronically a…

Information Exchange Agreement Signed Between Canada and the United States

February 5, 2014 Intergovernmental Agreement for the Enhanced Exchange of Tax Information under the Canada-U.S. Tax Convention [PDF 203 Kb]  To access a Portable Document Format (PDF) file you must have a PDF reader installed. If you do not already have such a reader, there are numerous PDF readers available for free download or for purchase on…

Canada and U.S. Reach Agreement on Foreign Account Tax Compliance Act

February 5, 2014 – Ottawa, Ontario – Department of Finance Finance Minister Jim Flaherty and National Revenue Minister Kerry-Lynne D. Findlay today announced that, after lengthy negotiations, Canada and the United States have signed an intergovernmental agreement under the longstanding Canada-U.S. Tax Convention. In March 2010, the U.S. enacted the Foreign Account Tax Compliance Act (FATCA). FATCA…

Canada: Renouncing Your U.S. Citizenship: Is Divorcing Uncle Sam Right For You?

20 March 2013 Article by Alexander Marino  A: INTRODUCTION The billionaire co-founder of Facebook, the only American member of Monty Python, a Civil Rights Leader with a PhD from Harvard, the founder of Carnival Cruise Lines and owner of the Miami Heat NBA franchise, and arguably the best chess mind to ever live have more in…

Compliance with U.S. tax law may violate Charter of Rights Read more: http://www.vancouversun.com/news/Compliance+with+violate+Charter+Rights/8086718/story.html#ixzz2NO0iGz1e

Opinion: Creating tax misery for nearly seven million U.S. expatriates By Don Whiteley, Special to The Vancouver Sun March 12, 2013 5:03 PM   While the Harper government conducts clandestine negotiations with the United States over a new tax information exchange agreement, Canada’s leading constitutional legal expert is telling the federal government such an agreement risks…