US Cross-Border Tax Blog

Published by W.L. Dueck LLP

Posts filed under ‘Tax Evasion’


New Foreign Income Reporting Requirements for Canadian Taxpayers: An Update

In an earlier blog post, we discussed the new Stop International Tax Evasion Program and the fact that Canada Revenue would be redesigning its Form T-1135, Foreign Income Verification Statement.  Canada Revenue has now released the new T-1135 form outlining the new reporting requirements for income earned from assets outside of Canada. Now Canadian taxpayers must report additional information on their foreign, income earning assets outside of specifying the cost basis and the aggregate income earned.  CRA will now require… Read More


Canada Revenue Agency Form T1135

In its 2013 budget, Canada announced the launch of Stop International Tax Evasion Program aimed at reducing international tax evasion and avoidance. The program allows Canada Revenue Agency to pay rewards to individuals with information on significant international tax non-compliance that leads to the collection of outstanding taxes due.  Canada Revenue Agency also announced details to increase compliance and audit efforts on international tax evasion and aggressive tax avoidance. One tool that Canada Revenue Agency has used to gather information… Read More