Federally Licensed Tax Professional Clarifies Consequences for US Citizens Working in Canada
A US citizen living or working in Canada incurs not only a tax obligation to the Canadian government but is also still liable for US income tax. Every tax preparation business is aware that the IRS imposes collection of income tax on worldwide income of US citizens. But US citizens also report holdings of foreign assets to the IRS.....
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Tags: obligation, foreign, government, Canadian, income, collection, Every, income, imposes, holdings, report