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U.S. Tax Law

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Publications

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Canada Revenue Agency

Stay updated with the latest insights and updates on the Canada Revenue Agency (CRA), including tax compliance, regulations, and strategies for individuals and businesses in Canada.

Budget Tax Updates

Stay informed on the latest tax changes from government budgets, including new policies and their impact on individuals and businesses. Get essential updates and strategic insights.

U.S. Fifth Circuit Court granted appeal to lift injunction on CTA reporting:

Federal Appeals Court Lifts Block on Anti-Money Laundering Law In a significant legal development, a federal appeals court has lifted an order that had blocked the nationwide enforcement of the Corporate Transparency Act (CTA). This anti-money laundering law mandates that corporate entities disclose the identities ...

U.S. Citizens Resident in Canada – Capital Gains Tax Rate

What should be a straightforward answer gets complicated by recent events in Canadian Parliament and a recent US Tax Court Case. Current Law A U.S. citizen resident in Canada is subject to both U.S. federal income tax and Canadian on their worldwide income. In 2023, ...

Developing Conflict Resolution Guidelines Creating Formal Procedures for Family Businesses

In family businesses, personal relationships often amplify conflicts, making formal conflict resolution guideline or policies essential. These guidelines separate personal from business issues, providing clear guidelines for managing disputes and preventing long-term damage. Given the unique dynamics of family enterprises, conflicts can easily become personal. ...

Update: Corporate Transparency Act Enforcement and Beneficial Ownership Reporting

Last week, we shared insights on the preliminary injunction halting the enforcement of the Corporate Transparency Act (CTA). The U.S. Department of Justice has since filed an appeal and we have new guidance from FinCEN on CTA enforcement, signalling the evolving BOI reporting requirements. DOJ ...

Nationwide Injunction Halts Corporate Transparency Act: What It Means for Your Business

Corporate Transparency Act (CTA) On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction, temporarily suspending the enforcement of the Corporate Transparency Act (CTA). The decision in Texas Top Cop Shop, Inc. v. Garland pauses the requirement for ...

Communication Strategies for Family BusinessesTechniques to Improve Communication and Prevent Misunderstandings

Effective communication is the cornerstone of any successful business, but in family enterprises, it plays an even more crucial role. The unique dynamics of family businesses—where personal relationships intertwine with business decisions—create an environment where miscommunication can quickly lead to misunderstandings, conflicts, and even business ...

Navigating ITIN Certification Changes: How We Can Help

The IRS’s Individual Taxpayer Identification Number (ITIN) application process has recently become more challenging for Canadian taxpayers. As of September 22, 2023, Service Canada no longer embosses dry seals on certified copies of passports—a change that has led to numerous W-7 applications being rejected by ...

Update on Quebec’s Economic and Financial situation- Tax Updates 2024

Overview On November 21, 2024, Quebec’s government issued the 2024 Update on Quebec’s Economic and Financial Situation. This comprehensive summary highlights the key changes introduced in the Update. Personal Tax Measures Changes to the tax credit for career extension Effective for the 2025 taxation year, ...

The member firms of Andersen in Canada focus on Canadian, international and Canada-U.S. cross-border tax matters. With offices across Canada, our tax professionals work with a broad range of businesses and individual clients to develop innovative tax solutions for a diverse range of issues. Our senior leaders and many of our professional staff have extensive experience in Canadian, international, U.S. and cross-border tax matters with major international accounting firms, as well as practical experience working with businesses and individuals.