There has been a great deal of attention focused on the information reporting requirements that have arisen for U.S. citizens living broad. Once you have determined that your client is a U.S. citizen and has a U.S. tax filing requirement . . . then what?
The first course in this two-part series, will take you through some of the basic tax issues to consider for U.S. Persons living in Canada. This course will give you the practical guidance you need to get your client filings prepared, and will steer you clear of some of the common errors made by practitioners.
Publication Date: January 2020
Topics Covered
- Who Needs to File?
- Administrative issues for filing U.S. 1040 Individual Tax Returns
- Preparing U.S. Income Tax Returns for U.S. Persons living in Canada — Line by Line Review of the Common Forms
- FATCA and Foreign Account Disclosures
- U.S. Tax Reporting for Canadian Snowbirds
- FATCA and Foreign Account Disclosures
- IRS Methods for Offshore Compliance
Learning Objectives
- Recognize who needs to file and when
- Identify administrative issues for filing U.S. 1040 Individual Tax Returns
- Describe schedules used for Form 1040
- Identify the 2019 foreign earned income exclusion amount
- Recognize the necessary forms used for different client scenarios
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
Instructors
Mohammad Ahmad
Mohammad is a Partner at Westmark Tax Group. He has over 17 years of experience providing expatriate tax services to corporate and individual clients. Prior to joining Westmark, Mohammad spent over 12 years with Big Four accounting firms in Toronto, London, UK and Vancouver. He has extensive advisory experience on tax issues relating to global mobility including employee incentive plans such as stock options, restricted shares and other executive incentive plans.
Mohammad is also a member of the Law Society of Upper Canada and received his law degree from the University of Toronto. He has an undergraduate diploma in managerial accounting from Wilfred Laurier University and an economics degree from the University of Western Ontario. He is the chair of the Pacific Regional Committee for the Canadian Employee Relocation Council (CERC) and is on the Vancouver Board of TiE (The Indus Entrepreneur), an organization dedicated to promoting global entrepreneurship and the Tigra Foundation, a public foundation dedicated to the protection of cats and dogs.
Debra Lewis-Mahon
Debra is Managing Director at Westmark Tax Group. She has over 10 years of dedicated experience providing US tax consulting, compliance, and representation services to both domestic and international individuals, businesses, and accounting firms such as Westmark Tax, Grant Thornton LLP and CACG PC.
Debra is an IRS Enrolled Agent (EA) licensed by the US Department of the Treasury as a tax expert authorized to represent taxpayers before the IRS. Considering three countries home, she is uniquely qualified to understand the intricacies of US tax for international taxpayers.