The Protecting Americans from Tax Hikes Act of 2015 (the 2015 Path Act), signed into law on December 18, 2015, increased the rate of withholding from 10% to 15% on disposition of US real property by non-US citizens, residents or Green Card holders under the Foreign Investment in Real Property Act of 1980 (FIRPTA). […]
Obama and Republicans finally agreed on something in common: Passing the Fixing America’s Surface Transportation Act in order to continue the crackdown on tax evaders, aka Americans living abroad. The FAST Act is a 5-year policy that enables the government to collect taxes to pay for transportation-related projects such as roads, bridges or rail networks. […]
Enough freeloading, the CRA has said to the Canadian population at large; they will find you and they will take away your benefits regardless of who you are. The tracking system – be it a land border or by air – is in the works to catch Canadians whose insufficient presence in the country disqualifies […]
Posted on Oct. 15, 2015 on Taxnotes.com Janice A. Flynn is an attorney with US Visa Solutions — Law Office of Janice A. Flynn. In this article, the author discusses how tax law and immigration law intersect to affect U.S. citizens or lawful permanent residents living abroad who may not be up-to-date with their U.S. […]
By J.P Finet Sept 24, 2015 Posted on Taxnotes.com Australia announced September 23 that it has shared bank information with the IRS for the first time in compliance with the intergovernmental agreement it signed to implement the Foreign Account Tax Compliance Act (FATCA). According to a release issued by the Australian Taxation Office (ATO), the […]
It has recently come to our attention that the CRA changed its policy on review of foreign tax credits claimed by individual taxpayers. The policy was internally revised on June 1, 2015 but has not yet been rolled out to the general public or practitioners. It is expected that the communication will be available on […]
Canadian businesses and individuals who make sales or provide services to U.S.-based clients or customers are considered to have income that is “effectively connected with the conduct of a trade or business in the United States”. Under U.S. domestic tax law non-residents who carry on a U.S. trade or business are subject to U.S. taxation […]
The “Reed Amendment” and Admissibility to the United States: Will I Be Barred From Reentry After Renunciation? By Daniel P. Joyce on August 27, 2015 Posted in SmarterWaystoCross.com A common concern about renunciation of U.S. citizenship is that of admissibility to the United States thereafter. Many people tell me that they have read about a […]
On 31 July 2015 President Obama signed the bill into law (The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015, H.R. 3236, also known as Highway or Stop-gap Bill) which amongst other measures sets new due dates for commonly filed US income tax returns and other disclosures. These changes to the filing […]
If you filed a Form 1040NR, U.S. Nonresident Alien Income Tax Return, in 2015 claiming a refund from an overwithholding of tax on Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding, and have not received the refund yet, you are not alone. The delay is due to a current policy adopted by the […]