The latest financial news and accounting tips from KWB.
US Tax Filing
Are you a US citizen? Do you spend more than 120 days per year in the US? If so you may be required to file a US personal tax return.
Form T1135 Foreign Income
Form T1135 Foreign Income Verification Statement must be filed if you, your corporation, trust or partnership, owned or held foreign property with a cost amount of more than $100,000 at any time in the year even if some or all of the property was sold before the year of the year. The form is used […]
FACTA Bank Reporting Requirements
Beginning in July of 2014, Canadian financial institutions will be required to start gathering and reporting information on accounts held by U.S. residents and U.S. citizens, including those who are resident of Canada. The account information will be collected and reported to the Canada Revenue Agency (CRA), who will then transfer the information to the […]