by Polaris Tax Counsel | Apr 12, 2017 | Technical Articles
In the latest issue of Tax Topics from Wolters Kluwer, Max Reed explains the ramifications of US passive foreign investment company polices to Canadian startups and their investors. Read the full piece here.
by Polaris Tax Counsel | Mar 31, 2017 | Cross-Border Tax
Many Canadian start-ups, whether junior mining, biotech, or tech, receive funding from investors in the United States (or from US taxpayers who reside in Canada). If the proper steps are not taken, a punitive US tax regime (the passive foreign investment company or...
by Polaris Tax Counsel | Mar 10, 2017 | Cross-Border Tax
Last May, the U.S. Department of Justice sued Jeffrey P. Pomerantz — a Canadian resident, US citizen — for over USD $860,300 in penalties and interest for failing to file his FBAR bank disclosure forms. This case is one of the first known instances of the...
by Polaris Tax Counsel | Oct 19, 2016 | Cross-Border Tax
Whether for ideological reasons or tax complications, many people want to shed their U.S. citizenship. There are two ways to do so: renunciation and relinquishment. Renunciation requires swearing an oath at a U.S. consulate. A person who renounces is no longer a U.S....
by Polaris Tax Counsel | Oct 19, 2016 | Cross-Border Tax
Many Canadians inherit money from relatives in the United States. There are generally no issues on either side of the border if a Canadian inherits property or money through a will. That being said, many U.S. residents plan their estates by using a trust rather than a...
