Beware of potential U.S. tax filing requirements

October 2013

    

Canadian taxpayers may be at risk of a U.S. income tax liability. The legislation surrounding this issue has changed over the years, so it is important to evaluate your own situation to avoid any unpleasant surprises from the IRS. Determine if any of the following statements apply to you:


  • I was born in the United States of America (U.S.).
  • Even though I was born outside the U.S., my birth was registered with the U.S. government.
  • One of my parents was born in the U.S.
  • One of my parents is a U.S. citizen.
  • I now hold or I previously held a U.S. passport.
  • I now hold or I previously held a green card in the U.S.
  • I have been in the U.S. for more than 120 days in any calendar year.

If any of the statements do apply, you may want to evaluate if you are caught by the broad scope of U.S. tax legislation.  A cross border tax expert would be needed to look at your specific situation.  We would be happy to introduce you to someone with this specialized knowledge.

        

    If you have questions or would like more information, including our complimentary Special Report: U.S. Tax and Estate Tax Update 2013, please contact your Investment Advisor.

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