US Cross-Border Tax Blog

Published by W.L. Dueck LLP

Posts filed under ‘US Citizen Living Abroad’

Steven Flynn

US Transition Tax – A Fourth Update

In mid-April, there is usually a race against time by taxpayers and accountants to meet US tax filing deadlines. The normal US tax filing deadline for the 2017 year for individuals and certain US entities is Tuesday, April 17th (a few days later than the usual April 15th due to weekends and a US holiday on Monday).  Entering the “race against time” this year is the Internal Revenue Service itself, who on Friday April 13th published more guidance on the… Read More

Steven Flynn

US Transition Tax – Next Update

On April 2nd, the IRS and US Treasury issued more guidance on the US Transition Tax enacted by the Tax Cuts and Jobs Act (“TCJA”) in December 2017.  As the US moves to a territorial tax system for profits earned outside the US, this provision assesses a tax rate on accumulated earnings and profits in specific non-US corporations owned by certain US corporations and US individuals. Our previous blog entries explaining the tax and IRS/US Treasury updates can be found… Read More

Steven Flynn

US Transition Tax – Update

On March 13th, the Internal Revenue Service provided further guidance on how US taxpayers should report activity subject to the US Transition Tax on their 2017 US income tax returns.  Our previous blog describing the tax and its impact to US taxpayers can be found HERE. This IRS guidance references earlier IRS updates and provides instruction on how to complete US federal income tax returns, file elections and make US federal income tax payments.  Full details of the IRS’s guidance… Read More

Steven Flynn

Changing Canadian and US Tax Law

Feedback is a valuable tool for improvement.  Whether you are a student seeking advice from a teacher, a professional listening to clients to upgrade service or a young point guard looking to beat a press (pass the basketball instead of dribbling it), we can all evaluate suggestions to help us improve.  Governments and tax authorities are no exception and often seek out comments and feedback on existing or proposed tax changes.  Recently a number of groups and organizations have offered… 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