Streamlined Filing Compliance Procedures for US Taxpayers in Canada
The United States requires its citizens and permanent residents to file US tax returns no matter where they are living. As such, US expats who are living in Canada are subject to US taxes on their income.
But did you know approximately one million US citizens are living in Canada who are unaware of the need to file a US tax return and have fallen behind on their tax obligations? This can lead to penalties and other consequences. How can you avoid that from happening?
US taxpayers living in Canada may use the IRS Streamlined Foreign Offshore Program. The program helps US taxpayers in certain situations where they’re required to file amended or delinquent returns to resolve tax obligations without penalty.
Get in touch with us in Ontario for our Streamlined Compliance Package, which includes three years of delinquent federal tax returns and six years of Foreign Bank Account Reports (FBARs).