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U.S. Citizen move to Canadian – Tax Issues – Former IRS Agents / Managers Former IRS Agents / Managers

October 17, 2011
Written by: steve

Canadian & U.S. Tax Issues

Question: You are  a U.S. citizen and move to Canada to live and work there as a Canadian permanent resident, do you pay both U.S. and Canadian Taxes?

Answer: United States citizens living abroad:

1.  Are required to file annual U.S. income tax returns.
2. Must report their worldwide income if they meet the minimum income filing requirements for their filing status and age.
3. Must contact the Canadian Government to determine whether you must file a Canadian tax return and pay Canadian taxes.
3. May be able to elect to exclude some or all of their foreign earned income, if certain requirements are met, or to claim a foreign tax credit if Canadian income taxes are paid.

Filed Under: Representation | Tax News
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