Despite US citizenship being the most coveted in the world, the number of people who voluntarily choose to expatriate constantly rises. US tax filing burden and complexity, associated tax return preparation cost, potential steep penalties for even an innocent mistake in a tax return or a disclosure, and a wide reach of the IRS […]
As a result of the US income tax provisions imposing residency and citizenship-based taxation on individual taxpayers, American citizen and Green card holders are required to file their US income tax returns and certain disclosures irrespective of the country in which they reside. This requirement exists even if there no additional US tax due after […]
Everyone knows that breakdown in marriage is not only emotionally but also financially draining. Crossborder divorce for dual resident Canadian couples or Canadian couples where one spouse is a US citizen, it may also be accompanied by extreme complexities and often unfavorable immediate tax implications. Canada and the US each has somewhat similar non-elective provisions […]