Tax Problem Solutions More often than not, complex tax problems are unanticipated; not to mention, they are almost always without clarification or simple answers. The support of a competent tax professional can help you with feasible tax solutions, which could be your first step towards the best possible outcome. If you are seeking feasible, practical […]
As a self-employed person , you and your spouse or common-law partner have until midnight on Thursday, June 15, 2017, to file your 2016 income tax and benefit returns. The legislated date for paying an income tax balance(tax obligations) owing is April 30. Since that date is a Sunday in 2017, the Canada Revenue Agency […]
Tax Partners has the IRS accreditations for the authentication of YOU ID documents for your ITIN application. Every year, Tax Partners assists hundreds of Canadians in obtaining an Individual Taxpayer Identification Number (ITIN). Indeed, as an IRS Certifying Acceptance Agent, we have the expertise and certification required to assist Canadians in obtaining their ITINs, including the ability to […]
Let us do the complex stuff, you will only need to wait for your cheque. Who’s eligible? Any Canadian citizen not residing in the USA having won a prize and seen the IRS withhold part of it can claim part or all of it to the IRS. Residents of other countries benefiting from a Tax […]
Millions of Americans living abroad aren’t aware that all American citizens are required to file US taxes, reporting their global income, wherever in the world they live. The requirement for Americans living abroad to file is an anomaly that dates back to the Civil War, when the federal government was desperate for revenue at a […]
Rumors swirl regarding US expats’ US filing obligations, some of which are true, and many of which aren’t. In this article we’ll separate the facts from the fiction. So without further ado, here are the top 20 things that you need to know about US expatriate taxation. 1 – Expats have to file The American […]
Purpose of Program The IRS amnesty program, known officially as the “Streamlined Foreign Offshore Procedures,” was established 2012 to encourage U.S. citizens/green card holders living abroad to come into full compliance on their delinquent or incomplete U.S. tax returns and FBARs. No Penalties A taxpayer who files via the Streamlined Foreign Offshore Procedures will […]
Purpose of the FBAR The FBAR is used by the United States government to identify persons who may be using foreign financial accounts to circumvent United States law. Information contained in FBARs can be used to identify or trace funds used for illicit purposes or to identify unreported income maintained or generated abroad. Who […]
So why is the IRS so concerned with US Expats? Well the US has the highest tax avoidance cost (circa $200 billion) in the world. So it makes sense that the IRS is continuously trying to find new ways, means, and methods to track US citizens who live or work abroad to make sure they […]
As a US American abroad, you may have heard a tax term called a “foreign source income” before. Perhaps you’ve even asked the question “What is foreign source income?” while reading one of our tax guides. Don’t worry – we’re going to make sure we will lay this all out for you. Foreign source income […]
