Oct 9, 2014 | FBAR and FATCA
By the time lawmakers and taxpayers have figured out whether the Foreign Account Tax Compliance Act was worth the trouble, it might be too late to undo any damage, National Taxpayer Advocate Nina Olson said October 7. “However much I’ve tried to figure out...
Oct 8, 2014 | Personal U.S. expat taxes
Original source: IRS Simplifies Procedures for Favorable Tax Treatment on Canadian Retirement Plans and Annual Reporting Requirements IR-2014-97, Oct. 7, 2014 WASHINGTON ― The Internal Revenue Service today made it easier for taxpayers who hold interests in either of...
Oct 7, 2014 | Personal U.S. expat taxes
Summary: The Treasury Department automatically give the election to defer taxation of RRSPs and RRIFs under Article XVIII (7) of the Convention between the United States and Canada. If the beneficiary of an RRSP or RRIF is a US citizen or resident for tax purposes in...
Oct 3, 2014 | FBAR and FATCA
They could find you when you get or renew your US passport, which is required to enter the United States; The way it is supposed to work is that you are mandated to provide your US Social Security Number (SSN) when you apply for a passport. The Department of State...
Oct 2, 2014 | FBAR and FATCA
FATCA is stirring a wave of confusion among U.S. expat communities around the world. As of this article, roughly 110 countries are either on-board with FATCA, or having active discussions with the United States. Mexico has signed FATCA agreement with the U.S. (as...
Sep 30, 2014 | Personal U.S. expat taxes
After posting First Year Abroad, I received the following message on Twitter @taxsamurai Perhaps you need to place emphasis that there are other types of income than “earned income” such as foreign pension. — JC Double Taxed (@JCDoubleTaxed) September 29,...
Sep 28, 2014 | FBAR and FATCA
As originally seen on the Isaac Brock Society’s post If this is accurate… : http://maplesandbox.ca/2014/are-other-canadian-credit-unions-being-as-responsible-about-fatca-as-vancity/comment-page-1/#comments I am delighted and, as a roughly-35-years member, proud...
Sep 24, 2014 | FBAR and FATCA
Hey, I found this video – I hope you like it
Sep 20, 2014 | Personal U.S. expat taxes
If you just moved abroad, you probably have a lot of questions about how to deal with the tax implication it may have. The Foreign Earned Income Exclusion and Foreign Tax Paid Credit pages will give you a more complete explanation of some of the issues you need to...
Sep 20, 2014 | Personal U.S. expat taxes
Overview Residency is a concept used by US states to determine whether you are liable to pay state income taxes. Your residence does not automatically end when you stop being physically present in that state. Generally, your “tax domicile” is the place you intend to...
