Tax News

IRS to waive penalties for people owing back taxes for 2020, 2021

The relief could be good news for U.S. persons in Canada

By Fatima Hussein, The Associated Press  and  Staff |December 20, 2023

2 min read

New trust reporting rules include in-trust accounts, jointly owned assets

Find out if your client is subject to the requirements

By Vivek Bansal |December 13, 2023

3 min read

New penalty remains as GAAR legislation tabled

Officials have no room to distinguish between cases driven by aggressive tax planning and those involving legitimate uncertainty

By Michael McKiernan |December 8, 2023

3 min read

Feds make two key changes to family business transfer rules 

Bill C-59 addresses issues flagged in the draft legislation

By Rudy Mezzetta |December 7, 2023

2 min read