http://www.mnp.ca/media-centre/blog/tags/internal-revenue-serviceInternal Revenue Service Blog Post RSS FeedCopyright 2012MNP All rights reserved.The Commissioner of the Internal Revenue Service (IRS), Douglas Shulman recently stated his beliefs on the state of the economy and tax compliance. http://www.mnp.ca/en/media-centre/blog/2009/4/27/fallout-or-consequences-the-irs-makes-its-case-for-increased-enforcement/Mon, 27 Apr 2009 00:00:00 GMTI am a U.S. citizen or a Green Card holder, how will US tax affect me? - U.S. citizens and Green Card holders are required to file a U.S. tax return every year regardless of where they live.http://www.mnp.ca/en/media-centre/blog/2009/12/4/can-us-tax-affect-you-faq/Fri, 04 Dec 2009 00:00:00 GMTIn today’s economy, investing in U.S. real estate is an exciting opportunity for Canadians. The U.S. taxation of Canadians holding U.S. real estate is complicated and should be evaluated fully before making the investment. Here are some issues to consider: http://www.mnp.ca/en/media-centre/blog/2009/12/9/investing-in-us-real-estate-have-you-thought-about-us-tax/Wed, 09 Dec 2009 00:00:00 GMTWho would have thought US healthcare reform would have such a unique and profound effect in Canada? Buried in the details of “The Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act” is a hidden provision that may well change how Canadian Corporations are taxed by the Internal Revenue Service (“IRS”).http://www.mnp.ca/en/media-centre/blog/2010/8/11/irs-uses-us-healthcare-to-catch-non-compliant-canadian-taxpayers-universal-coverage-may-have-new-meaning/Wed, 11 Aug 2010 00:00:00 GMTAfter much speculation, anticipation and the usual political rhetoric, the US Congress finally passed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. The Act will affect most US taxpayers, including the many Canadian individuals and businesses that are subject to US taxation.http://www.mnp.ca/en/media-centre/blog/2011/1/19/us-tax-relief-unemployment-insurance-reauthorization-and-job-creation-act-of-2010/Wed, 19 Jan 2011 00:00:00 GMTFrom a U.S. income tax perspective, certain rules apply to Canadians wintering in the U.S. Here's what you need to know.http://www.mnp.ca/en/media-centre/blog/2011/2/1/canadians-wintering-in-the-us/Tue, 01 Feb 2011 00:00:00 GMTThe IRS has been trying for years to get Americans with money offshore to disclose these accounts and report the income. On February 8, the IRS announced a new voluntary disclosure initiative to get non-compliant persons – U.S. citizens, residents, and green-card holders – into the system and compliant.http://www.mnp.ca/en/media-centre/blog/2011/2/11/us-2011-offshore-voluntary-disclosure-initiative/Fri, 11 Feb 2011 00:00:00 GMTPreviously, I wrote that US citizens and green-card holders who were delinquent in their US filing responsibilities generally had three choices. The IRS has added a new possibility that is much more attractive for many people.http://www.mnp.ca/en/media-centre/blog/2011/6/3/a-new-development-in-the-irs-offshore-voluntary-disclosure-initiative-affects-americans-in-canada/Fri, 03 Jun 2011 00:00:00 GMTMany Canadians are surprised to learn that their estates may be subject to the U.S. estate tax to the extent that they hold certain property situated or deemed to be situated within the United States. The most common examples of such property are U.S. real estate and securities issued by U.S. corporations.http://www.mnp.ca/en/media-centre/blog/2011/10/18/canadians-owning-us-real-estate-and-the-us-estate-tax/Tue, 18 Oct 2011 00:00:00 GMTA recent US Tax Court decision (Fuhrman, TC Memo 2011-236) – in determining the appropriateness of a mere $100,000 management fee charged to a US taxpayer – held that to prove that a management fee is appropriate, certain conditions must be met. The taxpayer was unsuccessful largely because there was little or no documentation retained.http://www.mnp.ca/en/media-centre/blog/2011/10/28/taking-your-cross-border-management-fees-seriously/Fri, 28 Oct 2011 00:00:00 GMTThere has been a recent flurry of articles, blogs and even televised reports in the U.S. concerning a U.S. Senate bill introduced by Sens. Chuck Schumer (D-NY) and Mike Lee (R-Utah). The bill proposes a number of changes to the immigration rules, most of which are intended to streamline and modernize procedures for obtaining visitor visas.http://www.mnp.ca/en/media-centre/blog/2011/11/9/us-bill-for-snowbirds-tempest-in-a-teapot/Wed, 09 Nov 2011 00:00:00 GMTMany individuals now resident in Canada have been shocked to learn that even though they may not owe any US tax, the IRS can go back many years and assess massive penalties for failing to report information about their income or assets.http://www.mnp.ca/en/media-centre/blog/2011/11/29/say-uncle-sam-yet-another-tax-filing-requirement-that-will-affect-americans-living-in-canada/Tue, 29 Nov 2011 00:00:00 GMTBarrie McKenna of the Globe & Mail interviewed the US Ambassador to Canada and myself on December 1, 2011. It appears that the noise made by Canadian practitioners of US tax, as well as Jim Flaherty, our Minister of Finance, has had some effect. The IRS is realizing that it is better to focus its efforts on Americans elsewhere.http://www.mnp.ca/en/media-centre/blog/2011/12/2/tentative-plans-from-the-irs-to-ease-the-burden-on-american-residents-in-canada/Fri, 02 Dec 2011 00:00:00 GMTThe IRS keeps coming up with new “incentives” for Americans in Canada who haven’t filed US returns, but want to come clean and file. The US Ambassador to Canada said more relief would be on its way and the IRS followed through promptly. However, the release that was recently issued now raises more questions than it answers.http://www.mnp.ca/en/media-centre/blog/2011/12/9/irs-relief-for-americans-in-canada-isnt-what-we-hoped-for-or-what-we-were-promised/Fri, 09 Dec 2011 00:00:00 GMTAfter several weeks speculating about the implications of the IRS’ new “incentives” for Americans in Canada filing belated tax returns. The IRS has now confirmed that the Fact Sheet was the guidance the Ambassador had alluded to when he promised further relief.http://www.mnp.ca/en/media-centre/blog/2011/12/23/specifics-of-the-ovdi-only-raise-more-concerns/Fri, 23 Dec 2011 00:00:00 GMTIn previous posts, I have reported on the recent flip-flopping of the IRS on the issue of Americans living abroad who haven’t filed US tax returns, but want to come clean.http://www.mnp.ca/en/media-centre/blog/2012/1/9/us-citizens-living-in-canada-have-yet-another-opportunity-to-come-clean-with-the-irs/Mon, 09 Jan 2012 00:00:00 GMTUS law requires that a US citizen show a passport in order to gain entry to the United States. However, it has been very common for US citizens living in Canada to use their Canadian passports when they’ve crossed the border going into the United States. Many don't even have US passports.http://www.mnp.ca/en/media-centre/blog/2012/1/31/passports-the-irs-continues-to-tighten-the-screws/Tue, 31 Jan 2012 00:00:00 GMT