US Cross-Border Tax Blog

Published by W.L. Dueck LLP

Welcome to W.L. Dueck & Co. LLP’s US and cross-border tax blog. We are a team of over 20 tax professionals that work exclusively on US and cross-border tax issues. Our clients include Canadian businesses and individuals with investments in the US and US citizens resident in Canada. We provide both tax consulting and tax return preparation services. We work with individual and business clients and their legal, accounting and financial advisors.

Steven Flynn

How Do I Move to Canada – Tax Edition

This week, on the night US primary results came in from Super Tuesday, Citizenship and Immigration Canada reported an increase in its normal website traffic from the US. Google reported a spike in the search term “moving to Canada” in the hours and days after. US citizens moving to Canada need to consider many issues such as immigration, health care, employment and skate size. Our tax laws are different than the US too and below we summarize some of the… Read More

Steven Flynn

Foreign Bank Account Reporting Forms

March means different things to different people.  Spring flowers.  Longer days.  College Basketball.  It’s also a time people start to think about their own income tax returns.  Deadlines arise in the spring and March 15th is just one such deadline for some US corporations and those individuals that are  required to ensure a non-US trust meets any US reporting obligations.  These US corporations and non-US trusts required to file US returns can file extensions on or before March 15th to… Read More

Steven Flynn

Update on IRS Tax Amnesty Programs

For the last eight years, the Internal Revenue Service has offered a number of tax amnesty programs to allow taxpayers to come forward and declare unreported non-US source income and assets.  Using these programs reduces penalties and can prevent criminal prosecution.  We have previously written about some of these programs: Internal Revenue Service Amnesty Programs Internal Revenue Service Announces Changes to Streamlined Program IRS Streamlined Procedures Update Non-Residency Requirements Update IRS Streamlined Procedures Non-Residency Requirements In January 2016, at the… Read More

Emily Yu

US Federal Income Tax – Gains on Sale of your Canadian Home Part 2

When an individual moves from Canada to the US, he must decide whether to keep or to sell his former home in Canada. Depending on the decision, it may result in different income tax or reporting implications in Canada and the US. When an individual ceases to be a resident of Canada, he is deemed to have sold his worldwide assets (with some exceptions) and is subject to Canadian tax on any accrued gains in the year he emigrates from… Read More

WLDTax

Strafford – PFIC Presentation January 7, 2016 – Additional Material

On January 7, 2016, together with Strafford Publications, Steven Flynn will be presenting on Passive Foreign Investment Companies. In his section of the presentation, Steven will discuss information and tools to help you complete IRS Form 8621 – Information Return by a Shareholder of a Passive Foreign Investment Company or Qualifying Electing Fund.  Links to this information and these tools are below: W.L. Dueck & Co. LLP Tools Example 1 and 2 – PFIC Excess Distribution Calculation Click to view… Read More