The U.S. TAXFACTS
The U.S. TAXFACTS is a newsletter that was developed to provide general information regarding typical cross-border tax situations that fellow professionals in the Canadian market encounter on a regular basis. It is designed to alert the reader to issues and planning opportunities to enable professionals to better serve their clients.
The first edition of the U.S. TAXFACTS appeared over 20 years ago in July of 1996 and discussed the taxation of U.S. real estate owned by Canadian residents. At the time it was aptly known as the U.S. TAXFAX as it was in fact distributed by fax machine, given widespread use of email was still in its infancy.
Many editions were distributed between 1996 and 2004 when the original U.S.TAXFAX was discontinued. In February of 2016 the newsletter was re-launched as the U.S. TAXFACTS.
Below you will find our most recent editions:
February 2016 Current Events – Individuals
– Accidental Americans – Sale of Principal Residence – Mutual Funds/PFIC – FIRPTA
June 2016 Current Events – Corporate
– Permanent Establishment – State Tax Nexus Update – LLC’s
February 2017 Issues to watch for during tax season
– Income from US Property – Changing title on US property – Estate Taxes – US Citizen non-filer update – W8/W9 Forms
– State Tax Nexus – Economic Nexus – Sales & Use Taxes – State Tax Problems…
– Toll Charge – GILTI Tax – Impact to US citizen shareholders of Canadian companies