Articles
Below is a collection of articles authored by us. We hope they will serve to educate and inform.
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All 136
All 136 /Athletes & Entertainers 3 /Business Entities 3 /Business Travelers 5 /Covid19 4 /CRA 66 /cryptocurrency 1 /Divorce 7 /Estates and Trusts 3 /Expatriation 5 /FBAR & FATCA 8 /Filing Due Dates 2 /Foreign Students 1 /GILTI 2 /Independent Contractors 2 /IRA 2 /IRS 87 /Pensions 3 /Personal 4 /Real Estate 14 /Secure Act 1 /Snowbirds 5 /Tax Delinquency 14 /Tax ID 5 /Tax Treaty 14 /TCJA 2 /Voluntary Disclosure 20 /Weekly Q&A 6
Net Investment Income Tax and Foreign Tax Credits – Back into the Fray
January 26, 2022/by Elena Hanson CPAIRS – Where is my Refund?
August 31, 2021/by Elena Hanson CPAWill the IRS and CRA ever align on tax treatment?
August 30, 2021/by Elena Hanson CPACRA Changes Policy to “Paying on Time” – More Interest/Penalties?
March 29, 2021/by Elena Hanson CPAIRS Announces Tax Filing Deadline Extensions and Unemployment Benefit Exclusion
March 29, 2021/by Elena Hanson CPAOld precedent still important for determining tax residency
February 8, 2021/by Elena Hanson CPACROSSBORDER MARRIAGE AND THE IRS: NUPTIALS MAY BRING NEW TAX OBLIGATIONS
February 3, 2021/by Elena Hanson CPAHow Biden’s tax proposals could affect U.S. persons in Canada
January 15, 2021/by Elena Hanson CPAUpdates to COVID 19 – New Rental Subsidy and Support Program – December 2020
January 5, 2021/by Elena Hanson CPAAccidental Americans: Taking the Cost of Renouncing U.S. Citizenship to Court
December 12, 2020/by Elena Hanson CPABiden Presidency may be more taxing for Canadians with cross-border affairs
December 3, 2020/by Elena Hanson CPACross-Border Credit: Why It’s Important To Establish Your Credit Profile in the U.S.
October 30, 2020/by Elena Hanson CPATrump versus Biden presidency – A tale of two taxes
October 30, 2020/by Elena Hanson CPACross-border divorce — COVID-19 style
October 25, 2020/by Elena Hanson CPAHow to move to Canada Fearing a Trump win – more people are asking again
October 25, 2020/by Elena Hanson CPAWhy now may be a good time for wealthy Canadians in the U.S. to return home
October 21, 2020/by Elena Hanson CPAStreamlined Procedures for a US Citizen with Foreign Reporting Obligations
October 14, 2020/by Elena Hanson CPAIRS Offers Stranded Snowbirds A Break
September 17, 2020/by Elena Hanson CPAUpdates to COVID -19 Canadian Responses for Business Owners – August
August 31, 2020/by Elena Hanson CPAUpdates to COVID -19 Canadian Responses for Individuals – August
August 31, 2020/by Elena Hanson CPACANADIAN NON-RESIDENT SELLING TO CANADA? IS IT TIME TO GET A GST/HST REGISTRATION
August 20, 2020/by Elena Hanson CPACRA looking for Canadians who own U.S. real estate
August 19, 2020/by Elena Hanson CPAKnowing your status is key to breaking up with the IRS through expatriation
June 5, 2020/by Elena Hanson CPAUpdates to COVID -19 Canadian Responses for Individuals – May
May 29, 2020/by Elena Hanson CPAUpdates to COVID -19 Canadian Responses for Business Owners – May
May 29, 2020/by Elena Hanson CPADouble taxation risk for Canadian independent contractors with California clients
May 22, 2020/by Elena Hanson CPAU.S. persons living in Canada could benefit from aid on both sides of the border
May 7, 2020/by Elena Hanson CPACrossborder death: An administrative nightmare for survivors
April 26, 2020/by Elena Hanson CPAImpact of COVID-19 part 2 – Financial and tax strategies
April 23, 2020/by Elena Hanson CPAImpact of COVID-19 part 1- Legal and business questions
April 17, 2020/by Elena Hanson CPACOVID-19 Measures for U.S. Taxpayers and Businesses (Long)
April 14, 2020/by Elena Hanson CPACovid-19 US Responses for Individuals and Businesses (Short)
April 8, 2020/by Elena Hanson CPACOVID -19 Canadian Responses for Business Owners
April 7, 2020/by Elena Hanson CPACOVID -19 Canadian Responses for Individuals
April 7, 2020/by Elena Hanson CPACanada COVID-19 Responses – March 30 2020
April 7, 2020/by Elena Hanson CPACoronavirus stimulus package and citizenship – The give and take of being a U.S. taxpayer
April 4, 2020/by Elena Hanson CPACOVID -19 Canadian Relief Measures Announced for Individuals and Small Business
March 20, 2020/by Elena Hanson CPAIRS and CRA – Changes to Tax Filing and Tax Payment Due Dates
March 20, 2020/by Elena Hanson CPACanada and the US to make changes to public retirement programs
March 4, 2020/by Elena Hanson CPAU.S. tax rules raising the stakes for Canadian residents with American citizenship
March 3, 2020/by Elena Hanson CPAInherited IRA with a Canadian Beneficiary – How it’s Taxed
March 2, 2020/by Elena Hanson CPAEmployee stock options at risk of crossborder double taxation
February 18, 2020/by Elena Hanson CPADying in Canada when owning a U.S. individual retirement account
December 18, 2019/by Elena Hanson CPAAnother Look at Taxing the Rich
December 18, 2019/by Elena Hanson CPACalifornia employment law double-edged sword for Canadian businesses
October 10, 2019/by Elena Hanson CPASpecialist vs. generalist – What kind of employee are you
This article was originally published on October 4 2019 by Globe…
October 7, 2019/by Elena Hanson CPAThe Taxation of Gifts Between Crossborder Couples
September 19, 2019/by Elena Hanson CPAThe disruption of cryptocurrency taxation and reporting obligations
September 18, 2019/by Elena Hanson CPACanadian resident working for a U.S. company? Make sure you know who pays the bills!
August 29, 2019/by Elena Hanson CPAIRS Sending Warning Letters to More Than 10,000 Cryptocurrency Holders
The Internal Revenue Service has begun sending letters to more…
July 28, 2019/by Elena Hanson CPAThe CRA sent more than 700,000 documents to the IRS in 2017
The Canada Revenue Agency (CRA) sent more than 700,000 records…
June 12, 2019/by Elena Hanson CPACRA does little to protect us from identity theft
This article was originally published on June 7 2019 by The Lawyer’s…
June 10, 2019/by Elena Hanson CPAIRS moves its systems ahead 60 years
This article was originally published on May 31 2019 by The Lawyer’s…
June 3, 2019/by Elena Hanson CPAChanges Made to the High Tax-Exception for Exclusion from Subpart F Income
What is Subpart F Income?
Generally, the taxation of earnings…
May 13, 2019/by Elena Hanson CPAGenerally, the taxation of earnings…
TAXPAYERS BEWARE – GREATER COMPLEXITY IN OBTAINING EIN IS COMING YOUR WAY
Three things to know about updates to the EIN application form
In…
May 10, 2019/by Elena Hanson CPAIn…
U.S. tax changes affecting cross-border alimony
This article was originally published on Apr. 16 2019 by The…
April 27, 2019/by Elena Hanson CPAUnexpected IRA Tax Consequences for Canadians who Expatriate
April 17, 2019/by Elena Hanson CPACalifornia Legislature Approves Marketplace Bill
Non proprietary. This article was originally published by Paul…
April 10, 2019/by Elena Hanson CPAThe Tax Cost of Divorce under the TCJA
April 6, 2019/by Elena Hanson CPAThe State of California and Canadian RRSPs – The Tax Facts
So, you’re a Canadian who decides to move to the Sunshine State.…
March 26, 2019/by Elena Hanson CPAIt may be hard to get excited about filing income taxes
March 22, 2019/by Elena Hanson CPAUS Persons with Foreign Interests may be overlooking important reporting requirements
U.S. citizens or residents who are officers or directors of a…
March 19, 2019/by Elena Hanson CPAGILTI Relief for US Individual Taxpayers
March 7, 2019/by Elena Hanson CPAEquity compensation for independent contractors
February 24, 2019/by Elena Hanson CPAThe Anti-Abuse Rules under Transition Tax (Section 965) Final Regulations
Code Section 965 of the Tax Cuts and Jobs Act requires some US…
February 1, 2019/by Elena Hanson CPARemote Canadian Employees with U.S. Employers: Tax Perks, Pitfalls and Prevention
January 27, 2019/by Elena Hanson CPAIRS shutdown may lead to complications for Canadians
With the United States government shutdown in its fifth week…
January 24, 2019/by Elena Hanson CPA1.6 million Canadian banking records shared with IRS
The Canadian government has shared more than 1.6 million Canadian…
January 24, 2019/by Elena Hanson CPACan I extend filing of my US 1040 return beyond October 15? And how about form 3520?
US citizens living outside the US (i.e. abroad) have an automatic…
November 12, 2018/by Elena Hanson CPACan we eliminate GILTI tax by making the 962 Election?
Pursuant to Barry v Commissioner, the courts concluded that dividends…
November 5, 2018/by Elena Hanson CPA4 Days Left for OVDP What’s Next
On September 28, 2018, i.e. in four days, the IRS is terminating…
September 25, 2018/by Elena Hanson CPAARE NEW US PROFIT SOURCING RULES IMPACTING YOUR (CANADIAN) BUSINESS BOTTOM LINE?
Effective for tax years after December 31, 2017, as part of the…
July 12, 2018/by Elena Hanson CPAJuly 2: IRS Announces Five Additional Compliance Campaigns
Virtual currency and the repatriation of foreign profits under…
July 4, 2018/by Elena Hanson CPAIRS provides an extension for the 1st installment payment where the deadline is missed
The first installment payment due date for the Transition Tax…
June 6, 2018/by Elena Hanson CPATransition Tax Relief-One Last Chance on a One Year Lookback – Calendar year-end CFCs
If you are an individual US shareholder of a controlled foreign…
April 16, 2018/by Elena Hanson CPAIRC Section 965, solution for your Repatriation Transition tax computation
If you are in the business of accounting, tax and/or law, you…
March 17, 2018/by Elena Hanson CPAWARNING TO NON-COMPLIANT US CITIZENS THE IRS 2014 OFFSHORE VOLUNTARY DISCLOSURE PROGRAM TO BE SHUT DOWN!
On March 13, 2018, the IRS announced that it will be winding…
March 17, 2018/by Elena Hanson CPA5 main things a Canadian should know before purchasing Florida real estate
First and foremost, a Canadian should not create an LLC to…
March 16, 2018/by Elena Hanson CPACanada Tackles Tax Dodging, Tweaks Passive Savings Proposals
Canada’s latest budget proposes increasing tax authority resources,…
March 5, 2018/by Elena Hanson CPAQ & A for Tax Season
Q: I am a US resident and I just inherited a Registered Retirement…
February 16, 2018/by Elena Hanson CPACHANGES IN ALIMONY TAX TREATMENT
US Tax Reform – HR.1: Changes to the Alimony deduction
Public…
February 8, 2018/by Elena Hanson CPAPublic…
US Tax Reform – HR1 Changes to the Moving expense deduction
Are you considering a relocation which involves the US? If…
January 21, 2018/by Elena Hanson CPAUNDERSTANDING YOUR FILING OBLIGATIONS AS A CANADIAN RESIDENT INVESTING IN CANADIAN REAL ESTATE
RENTAL INCOME REPORTING
As a Canadian resident investing in Canadian…
January 9, 2018/by Elena Hanson CPAAs a Canadian resident investing in Canadian…
CRA VDP Changes Starting March 1, 2018
I was surfing the internet and came across an article that said…
January 5, 2018/by Elena Hanson CPAOFFICER’S PERSONAL LIABILITY FOR CORPORATE UNPAID TAXES – NEW YORK STATE PERSPECTIVE
There are many Canadian companies that have been doing business…
December 19, 2017/by Elena Hanson CPAAmerican Expats want tax reform relevant to them
-
US Tax and Reporting Obligations – How They Stand Today
Every…
December 9, 2017/by Elena Hanson CPAUS Tax and Reporting Obligations – How They Stand Today
Every…
Canadian Off-shore Investments are on the Radar for CRA
With increased collaboration between friendly nations, CRA is…
November 13, 2017/by Elena Hanson CPATrump’s Proposed Tax Changes – Mostly Bad News for Americans in Canada
On November 2 the Joint Committee on Taxation released the proposal…
November 6, 2017/by Elena Hanson CPACan CRA collect for IRS? The Answer is Yes
US expatriates in Canada and Canadians in the U.S. need to remember…
September 12, 2017/by Elena Hanson CPAPenalty Update: Be In the Know
“It’s really American to avoid paying taxes, legally” - …
September 1, 2017/by Elena Hanson CPATIGTA has something to say about NRAs
It appears almost 13% of all foreign property owners in various…
August 29, 2017/by Elena Hanson CPAIn Choosing OVDP or Streamlined, Consider IRS Streamlined Audits
Offshore income and account disclosures to the IRS continue,…
July 26, 2017/by Elena Hanson CPATaxpayer ID Numbers Will Be a Must for Some FATCA E-Filing
Some foreign banks trying to report Americans’ accounts to…
April 12, 2017/by Elena Hanson CPAU.S. sues Vancouver dual citizen for over $1M for not reporting accounts
A U.S.-Canadian dual citizen living in Vancouver is being sued…
March 18, 2017/by Elena Hanson CPAElection 2016: Who will Make a Better Neighbor with their Tax Reforms
Walking through the TTC subway at Broadview or on many bus stops…
November 6, 2016/by Elena Hanson CPAWeekly Q & A – What if my Previous Streamline Submission was Incomplete
Q: What if my Previous Streamline Submission was Incomplete?
A:…
November 1, 2016/by Elena Hanson CPAA:…
Canadians that relocate to the US for career purposes – Post 6
Post #6 - How Can HCBT Help
In the previous posts, we outlined:
tax…
October 12, 2016/by Elena Hanson CPAIn the previous posts, we outlined:
tax…
Canadians that relocate to the US for career purposes – Post 5
Post # 5 / Damage Control
In the last post HCBT had recommended…
October 1, 2016/by Elena Hanson CPAIn the last post HCBT had recommended…
Canadians that relocate to the US for career purposes – Post 4
Post # 4 / Financial Damage Control
In the last post we outlined…
September 19, 2016/by Elena Hanson CPAIn the last post we outlined…
Canadians that relocate to the US for career purposes – Post 3
Post # 3 / What Went Wrong – Specifics / Financial Risk Created
In…
September 15, 2016/by Elena Hanson CPAIn…
Retiring Soon and considering buying US property-Listen to this
September 11, 2016/by Elena Hanson CPACanadians that relocate to the US for career purposes – Post 2
Compliance Lapse / What Went Wrong / Financial Risk Created
In…
September 11, 2016/by Elena Hanson CPAIn…
Canadians that relocate to the US for career purposes – Post 1
Our website and letterhead uses “HCBT” as an abbreviation…
September 6, 2016/by Elena Hanson CPAWeekly Q & A – Applying for an ITIN for a US Non-Resident Decedent
Q: My father, who was a Canadian citizen and resident, passed…
August 18, 2016/by Elena Hanson CPAWeekly Q & A – Investing in US Partnerships through an RRSP
Starting this month we will be issuing a weekly Q&A notes…
August 8, 2016/by Elena Hanson CPAObtaining a Centralized withholding agreement
For Canadian Musicians and Athletes: Obtaining a Centralized…
April 4, 2016/by Elena Hanson CPARebutting the Presumption of U.S. Citizenship Under FATCA
by Roy Berg U.S./Canada Tax Lawyer, admitted in both Canada…
March 25, 2016/by Elena Hanson CPAU.S. FBAR PROPOSED CHANGES
As of March 1st, 2016 the U.S. Treasury’s Financial Crimes…
March 4, 2016/by Elena Hanson CPAUpdate on OVDP and Streamlined Filing Compliance Procedures
Outstanding or incomplete returns haunt some of us, and the IRS…
March 2, 2016/by Elena Hanson CPACanadian Offshore Tax Informant Program Gives Incentives to Whistleblowing
Offshore Tax Evasion
For the past 6 years or so we have been…
February 14, 2016/by Elena Hanson CPAFor the past 6 years or so we have been…
Watch Out for the New CRA Audit Letter Campaign
Letter Writing Campaign
The new CRA Audit Letter Writing…
US Taxation of Foreign Students
Foreign Students in the US
There are over 1 million foreign students…
January 19, 2016/by Elena Hanson CPAThere are over 1 million foreign students…
New ITIN Requirements Effective December 19, 2015
Every taxpayer with US filing obligations, whether in the form…
January 3, 2016/by Elena Hanson CPAFIRPTA Tax Withholding is Scheduled to Increase to 15 Percent and Other Changes
The Protecting Americans from Tax Hikes Act of 2015 (the…
Tax Delinquents May Have Passport Revoked
Obama and Republicans finally agreed on something in common:…
December 3, 2015/by Elena Hanson CPASneaky snowbirds could have financial wings clipped by new border tracking system
Enough freeloading, the CRA has said to the Canadian population…
November 2, 2015/by Elena Hanson CPARisk of U.S. Inadmissibility for Americans Residing Abroad
Posted on Oct. 15, 2015 on Taxnotes.com
Janice A. Flynn is an…
November 2, 2015/by Elena Hanson CPAJanice A. Flynn is an…
Australia Shares FATCA Information, Canada Set to Follow
By J.P Finet Sept 24, 2015 Posted on Taxnotes.com
Australia…
September 28, 2015/by Elena Hanson CPAAustralia…
Changes to CRA Review Policy on Foreign Tax Credit
It has recently come to our attention that the CRA changed its…
September 10, 2015/by Elena Hanson CPAWhat is a Treaty-Based Return and Why Shall I File It?
Canadian businesses and individuals who make sales or provide…
August 31, 2015/by Elena Hanson CPAReed Amendment
The “Reed Amendment” and Admissibility to the United States:…
August 31, 2015/by Elena Hanson CPANew IRS Compliance Deadlines May Impact Your Filings
On 31 July 2015 President Obama signed the bill into law (The…
August 4, 2015/by Elena Hanson CPAARE YOU STILL WAITING FOR YOUR U.S. REFUND? IT MAY STILL BE AWHILE
If you filed a Form 1040NR, U.S. Nonresident Alien Income Tax…
August 3, 2015/by Elena Hanson CPA2015 Tax Rates QuickFacts US
2015 TAX RATES
Use this link to download the PDF version of…
June 16, 2015/by Elena Hanson CPAUse this link to download the PDF version of…
2014 US Tax Rates QuickTaxFacts
2014 TAX RATES Quick TaxFacts (US)
Use this link to…
June 16, 2015/by Elena Hanson CPAUse this link to…
Reporting Requirements of U.S. Direct Investment Abroad: 2014 Benchmark Survey
Reporting Requirements of U.S. Direct Investment Abroad: 2014…
June 16, 2015/by Elena Hanson CPAEstate and Trust with Cross-border Filing Obligations
Having assets or family abroad or being an American citizen and…
June 11, 2015/by Elena Hanson CPACrossborder Pensions Rentals and Investments
With globalization of the workforce it is not uncommon for Canadians…
June 11, 2015/by Elena Hanson CPABusiness Travelers and Employees on International Assignments
Business Travelers and Employees on International Assignments
Many…
June 11, 2015/by Elena Hanson CPAMany…
Canadian Businesses Doing Business or Expanding into the US
The US market offers enormous opportunities for foreign investors…
June 11, 2015/by Elena Hanson CPACanadian Snowbirds Entry Exit Initiative
If you are one of the Canadians who make an annual pilgrimage…
June 10, 2015/by Elena Hanson CPATax identification numbers US and Canadian
There are several types of tax identification numbers…
Filers under US and Canadian Tax Amnesty Programs
Both US and Canadian tax systems are based on self-assessment…
June 9, 2015/by Elena Hanson CPAAmerican Citzens Looking to Expatriate
Despite US citizenship being the most coveted in the…
American Citizens and Green Card Holders in Canada and Other Countries
As a result of the US income tax provisions imposing residency…
June 8, 2015/by Elena Hanson CPATax Implications in Crossborder Divorce
Everyone knows that breakdown in marriage is not only emotionally…
June 8, 2015/by Elena Hanson CPAWhere to find us
4-209 Speers Road
Oakville, ON, L6K 0H5
Canada
Our Affiliated Office
777 Passaic Avenue Suite 280
Clifton, New Jersey, 07012
USA
Contact Us
Meetings are by appointment only.
Phone: +1 855 640 1730
Local: +1 905 845 1194
Fax: +1 855 662 1232
Email: mail@hcbtax.com