Foreign Students in the US There are over 1 million foreign students studying in the United States on a F, J, M or Q visa. Most of them have a healthy fear of making errors on their tax return or forgetting to file entirely. Errors or failure to file could result in fines, being reclassified as […]
Every taxpayer with US filing obligations, whether in the form of a tax return, a declaration of estimated tax payment or an informational disclosure, must be identified by a taxpayer’s identification number. Typically, such identification number is an individual’s social security number. If an individual is not eligible for a social security number, he or […]
The Protecting Americans from Tax Hikes Act of 2015 (the 2015 Path Act), signed into law on December 18, 2015, increased the rate of withholding from 10% to 15% on disposition of US real property by non-US citizens, residents or Green Card holders under the Foreign Investment in Real Property Act of 1980 (FIRPTA). […]
Obama and Republicans finally agreed on something in common: Passing the Fixing America’s Surface Transportation Act in order to continue the crackdown on tax evaders, aka Americans living abroad. The FAST Act is a 5-year policy that enables the government to collect taxes to pay for transportation-related projects such as roads, bridges or rail networks. […]
Enough freeloading, the CRA has said to the Canadian population at large; they will find you and they will take away your benefits regardless of who you are. The tracking system – be it a land border or by air – is in the works to catch Canadians whose insufficient presence in the country disqualifies […]
Posted on Oct. 15, 2015 on Taxnotes.com Janice A. Flynn is an attorney with US Visa Solutions — Law Office of Janice A. Flynn. In this article, the author discusses how tax law and immigration law intersect to affect U.S. citizens or lawful permanent residents living abroad who may not be up-to-date with their U.S. […]
By J.P Finet Sept 24, 2015 Posted on Taxnotes.com Australia announced September 23 that it has shared bank information with the IRS for the first time in compliance with the intergovernmental agreement it signed to implement the Foreign Account Tax Compliance Act (FATCA). According to a release issued by the Australian Taxation Office (ATO), the […]
It has recently come to our attention that the CRA changed its policy on review of foreign tax credits claimed by individual taxpayers. The policy was internally revised on June 1, 2015 but has not yet been rolled out to the general public or practitioners. It is expected that the communication will be available on […]
Canadian businesses and individuals who make sales or provide services to U.S.-based clients or customers are considered to have income that is “effectively connected with the conduct of a trade or business in the United States”. Under U.S. domestic tax law non-residents who carry on a U.S. trade or business are subject to U.S. taxation […]
The “Reed Amendment” and Admissibility to the United States: Will I Be Barred From Reentry After Renunciation? By Daniel P. Joyce on August 27, 2015 Posted in SmarterWaystoCross.com A common concern about renunciation of U.S. citizenship is that of admissibility to the United States thereafter. Many people tell me that they have read about a […]