Close to one million American expatriates and dual citizens live in Canada, many of whom haven’t worked, lived, or even stepped foot in the U.S. for years. Many of them don’t report their income to the IRS, mistakenly believing that they don’t have to because they don’t owe the IRS any taxes. But as of July 1, 2014, the CRA will begin collecting and sharing with the IRS information on any “U.S. person” with accounts in a Canadian financial institution.
We are very pleased to announce that Meghan Ferguson from Devry Smith Frank LLP will be sharing her expertise with our readers on First Reference Talks. She will be covering issues surrounding employment and labour law, starting this month.
Established in 1995, First Reference Inc. (known as La Référence in Quebec) provides Canadian organizations of any size with practical and authoritative resources to help ensure compliance.