IRS launches new “IRS Direct Pay” system (Posted May 23, 2014):
The IRS has launched a new “IRS Direct Pay” system that lets taxpayers pay their US tax bills or make estimated tax payments directly from chequing or savings accounts without any transaction fees or pre-registration.
For more information regarding this new payment system, please click here
Border shakeup could have tax consequences for snowbirds (Posted March 19, 2014):
Canadian and U.S. authorities are about to make a dramatic shift in the way they determine the residency of individuals who split their time between both countries, and snowbirds unprepared for the changes could face serious tax consequences.
“The goal is to make Canadians live up to the rule against spending more than six months in the U.S.,” says Matt Altro, chief executive of Montreal-based MCA Cross Border Advisors Inc.
click here to read the full article on the National Post website
Update on Canada-US Border Security Initiative (Posted January 9, 2014):
Do you or someone you know travel extensively back and forth between Canada and the US or spend a significant amount of time in the US? Did you know that as a Canadian, if you spend too many days in the US that you can be opening yourself up to both US and Canadian tax consequences? Did you know that Canada and the US have border security iniatives in place to monitor people’s travel habits? Please contact us to discuss your personal situation further.
IRS Warns of Pervasive Telephone Scam (Posted Oct 31, 2013)
The Internal Revenue Service is warning people about a sophisticaed phone scam targeting taxpayers, including recent US immigrants. To find out more details about the scam and how to protect yourself, click here.
The Pursuit of Tax Evaders Continues (Posted May 10, 2013):
The IRS along with tax administrations from Australia and the United Kingdom have announced plans to share tax information involving a multitude of trusts and companies holding assets on behalf of residents in jurisdictions throughout the world. The efforts to pursue international tax evasion continue! To read more, click here.
IRS releases statement on obtaining emails (Posted May 1, 2013):
The IRS has released an official statement regarding their policies on obtaining emails from Internet Service Providers. You can read the full statement here.
Tax Tips to start planning for your 2013 return (Posted May 1, 2013):
Even though the 2012 tax filing season has ended for most, now is a good time to start thinking about organizing and planning ahead for the next tax filing season. By keeping your records organized, this can save time and money in preparing next year’s tax return. You can find tips from the IRS here, or you can contact us.
Haven’t filed your US taxes lately? (Posted May 1, 2013):
By now most people have heard of the IRS’ offshore voluntary disclosure initiative to assist US taxpayers who have failed to file US tax returns come forward and “catch-up” their returns without fear of criminal prosecution. But did you know that there are different programs available depending on your specific filing situation? The voluntary disclosure process can be confusing. Contact us today to set up an appointment date and time to discuss your filing requirements.