U.S. Citizens in Canada InfoShop

Archive for August 2012

2012 Aug 31 – IRS

Instructions for new streamlined filing compliance procedures for non-resident, non-filer U.S. taxpayers
IRS (31 Aug 2012)


“This procedure is available for non-resident U.S. taxpayers who have resided outside of the U.S. since January 1, 2009 and who have not filed a U.S. tax return during the same period. These taxpayers must present a low level of compliance risk as described.”

Written by usxcanada

31 August 2012 at 6:00 am

2012 Aug 29 – Moody

Kim G.C. Moody / Roy A. Berg
Tax in Canada and the US: the differences that really matter
Moodys Tax Advisors (29 Aug 2012)


The authors highlight seven separate points as key differences:  (1)  Taxation of individuals  (2)  Estate tax  (3)  Corporate taxation  (4)  Foreign reporting requirements  (5)  Double taxation  (6)  Variations in exit/departure tax  (7)  Status of paid tax preparers. Item 5 provides a link to another essential posting of theirs that has continuing value (and so is featured in the selective reading list appended to the Start Here section). Item 7 provides the fact that “according to the IRS there are only 2,392 such [qualified] individuals in all of Canada.”

Written by usxcanada

29 August 2012 at 6:00 am

Posted in Legal, Uncategorized

2012 Aug 22 – Berg

Roy A. Berg
IRS says FBAR penalties not collectible under Canada-US Treaty?
Moodys Tax Advisors (22 Aug 2012)


Canadian tax professionals pursue verification of Canadian government claims that IRS had confirmed that FBAR penalties would lie outside the scope of the Canada-US treaty — and find no supporting evidence.

Written by usxcanada

22 August 2012 at 6:00 am

Posted in Canada, Legal, Uncategorized

2012 Aug 16 – Current

Current relinquishment cases in Canada demonstrate the need for guidance
Flott & Co (16 Aug 2012)


A law firm specializing in United States citizenship issues describes two Canadian cases where US officials seemed less than clear and efficient in handling relinquishments.

Written by usxcanada

16 August 2012 at 6:00 am

Posted in Canada, Legal, Uncategorized

2012 Aug 13 – Gifford

James Gifford
Why Canadian residents may soon owe tax to the IRS
Moodys Tax Advisors (13 Aug 2012)


Expiration of current taxation provisions and/or the budgetary situation of the United States make it possible, even likely, that Canadian residents subject to US taxation will soon owe taxes to the United States.

Written by usxcanada

13 August 2012 at 6:00 am

2012 Aug 2 – Saunders

Laura Saunders
The renouncers: who gave up U.S. citizenship, and why?
Wall Street Journal (2 Aug 2012)


Saunders has put time and effort into trying to get a handle on the latest quarterly list of persons abandoning U.S. citizenship. The closing two paragraphs aptly focus on a case motivated by “frustration with paperwork generated by a flurry of new laws aimed at policing offshore accounts.”

Written by usxcanada

2 August 2012 at 6:00 am