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U.S. citizens and resident aliens, including those with dual citizenship who have lived or worked abroad during all or part of 2012, may have a U.S. tax liability and a filing requirement in June of 2013. June 17, 2013 – Tax Returns to U.S. Citizens and Resident Aliens Living Overseas; May Also Apply to Nonresident […]
The Department of Justice issued a release on April 30, 2013 that a federal court in San Francisco has entered an order authorizing the Internal Revenue Service (IRS) to serve a “John Doe” summons seeking information about U.S. taxpayers who may hold offshore accounts at Canadian Imperial Bank of Commerce FirstCaribbean International Bank (FCIB) through […]
On May 15, 2013, the Internal Revenue Service announced additional details about the closures planned for May 24, June 14, July 5, July 22 and August 30, 2013. Due to the current budget situation, including the sequester, all IRS operations will be closed on those days. This means that all IRS offices, including all toll-free […]
The Fifth Protocol to the Canada-US Income Tax Convention (also known as the Canada-US Income Tax Treaty) was signed in 2007 and ratified by the U.S. Senate the following year, making significant changes to the then existing treaty. This article will briefly explain some of the major Fifth Protocol (“Protocol”) changes to the US-Canada Income […]
Subpart F Active Financing Income Exceptions and Look-Through Rule 2012 and 2013 extensions