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Archive for Phil Hogan

How To File U.S. Income Tax Returns In Canada

Phil Hogen - What US Canada Filings Need To Be Completed

The first question we need to ask is whether you are actually required to file U.S. tax returns. Generally speaking, U.S. citizens and Green Card holders are required to file U.S. tax returns regardless of where they live. Therefore Americans living in Canada, whether they have recently moved to Canada, or have been in the country their entire lives, are required to file U.S. tax returns, in addition to their regular Canadian tax returns.

Once you have established that you are required to file U.S. tax returns, the next step will be to assess your actual filing requirements. Please keep current with US/Canada tax law changes as they can significantly affect your annual filing requirements.

What forms need to be filed?

Assuming you are above the required income filing threshold, you will need to complete Form 1040 for the current year. The 1040 is the general income tax form, and is really only 2 pages long. The bulk of your annual U.S. income tax filings will be comprised of additional forms and schedules.

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Tax Fairness For Americans Abroad Act of 2018

Phil Hogan - Tax Fairness For Americans

On December 20th, 2018 Congress member George Holding of North Carolina introduced the Tax Fairness for Americans Abroad Act of 2018 bill into the House. This announcement garnered the attention of many US citizen taxpayers abroad for obvious reasons.

The introduced bill outlines an alternative taxation regime for US citizens living abroad. In simple terms the bill introduces the following measures:

  • the bill would allow US citizens to be taxed based on a residency established system.
  • for those considered “non-resident citizen” current worldwide reporting and taxation to the US government would not be required (assuming proper elections are filed)
  • US Citizens would continued to be taxed on certain US source income
  • US Citizens would be taxed on any sale of property or capital property during the time they were considered “resident Citizen of the US”
  • In order to be considered a qualify “non-resident citizen” the taxpayer would need to be fully compliant for tax purposes during the last 3 years.

Phil Hogan


Canada Revenue Agency (CRA) Has Shared Over 1.6 Million Documents With The IRS To Date

Phil Hogan - Canada- US Cross Border Tax Issues

The Canada Revenue Agency (CRA) continues to supply information to the IRS on U.S. Citizen owned investment and bank accounts. According to CBC, CRA has already shared over 1.6 million Canadian banking records with the IRS. Even with the significant sharing of documentation we are still not seeing an increased level of new clients being contacted by the IRS.

You would think that if the IRS has such a large of amount of banking information from United States citizens abroad they would be enforcing compliance by reaching out to these Americans. This might be something that has yet to happen and may be on the horizon.

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