There are a LOT of people from Canada in Denver, Colorado where I spend the majority of my time as a student of the US tax code. Many dual citizens got stung by the reasonably new US FBAR tax laws and there were some tragic cases that filtered there way up to my desk. Having grown up in Wisconsin and consider myself a Minnesotan I truly believe that anyone hearty enough to live north of Lake Michigan has to be by definition a good spirit. I personally love most everything about Canada from the cold winters to the oxygen rich summers.
With that I write today to my Canadian friends and clients to inform them that the IRS recently updated Publication 597, Information on the United States – Canada Income Tax Treaty. This publication discusses a number of treaty provisions that often apply to U.S. Read more