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intergovernmental agreement

By Adam Gorley | 2 Minutes Read June 16, 2014

FATCA deadline two weeks away

While we wait for Bill C-31 to pass through the Senate on its way to becoming law, the deadline for compliance with the United States' Foreign Account Tax Compliance Act is only two weeks away...

Article by Adam Gorley / Business, Finance and Accounting, Payroll, Privacy / Bill C-31, Canada Revenue Agency, Canadian Bankers Association, compliance deadline, CRA, FATCA, Foreign Account Tax Compliance Act, Income Tax Act, intergovernmental agreement, legal compliance, tax compliance, tax evasion, tax law, taxes

By Adam Gorley | < 1 Minutes Read April 16, 2014

FATCA agreement signed, implementation Bill to come

The federal government has signed an agreement to help the United States catch tax-evading "US persons" living outside the US, including those with dual US-Canada citizenship.

Article by Adam Gorley / Business, Finance and Accounting, Payroll / banks, Canada Revenue Agency, Canada-U.S. Tax Convention, Citizenship, CRA, credit unions, disclosure of financial information, dpsp, extraterritorial implications, FATCA, financial institutions, Foreign Account Tax Compliance Act, intergovernmental agreement, Internal Revenue Service, IRS, PPRP, privacy legislation, RDSP, RESP, RRIF, RRSP, small business, tax law, taxes, TFSA, United States

By Adam Gorley | 2 Minutes Read May 6, 2013

American law turns Canadian banks into tax agents

Here is an issue you might need to keep in mind in the coming months. As it stands, a recent United States tax law will require Canadian banks nd other financial institutions (including credit unions, pension managers, insurance companies, and others) to provide some Canadian (and American) citizens’ information to the American Internal Revenue Service (IRS). The US Foreign Account Tax Compliance Act, which is set to come into effect through 2013 and 2014, aims to catch tax-evading “US persons” living abroad, including those with dual US-Canada citizenship

Article by Adam Gorley / Finance and Accounting, Privacy / banking, Charter of Rights and Freedoms, Citizenship, extraterritorial implications, FATCA, financial institutions, Foreign Account Tax Compliance Act, intergovernmental agreement, Internal Revenue Service, IRS, privacy, small business, tax law, taxes, United States

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