Insights
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What you need to know about FBAR filings
US citizens living in Canada need to file a form annually to report their Canadian bank information. This form is referred to as a Foreign Bank Account Report (FBAR). The FBAR form reports foreign (non-US) bank accounts to FinCEN, the Fin…
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US Tax Updates and Filing Requirements for Americans in Canada
Americans in Canada must file U.S. taxes on their worldwide income, even if they did not reside in the U.S. Canadian tax filing requirements apply only to residents of Canada. There is a U.S.-Canada tax treaty, but it doesn’t prevent Americans liv…
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Three things Canadians should know before selling U.S. real property
Three things Canadians should know before selling U.S. real property The following are key tax issues for a Canadian resident planning to sell personally owned U.S. real estate. Canadians that do not have a Social security number need to obtai…
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Who Must File an FBAR?
US citizens living in Canada normally hold Canadian bank and investment accounts. United States citizens are required to file an FBAR if they had financial interest in or signature authority over at least one financial account located in Canada and t…
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