Generally, every US citizen regardless of whether they are living in the United States has to file an annual Federal income tax return with the IRS. Non-US citizens may have to file a US income tax return if they have certain US source income, such as US rental property income or if they were present in the US for an extended period.
Taxpayers are typically not fully aware of these filing requirements especially with respect to US real estate, whether it is for personal use, rental or both. Taxpayers that spend part of the year in the US may be considered US residents for US tax purposes under some circumstances. In addition, the future sale of the US real estate may result in a capital gain or loss that is required to be reported to the IRS by filing an income tax return.
We have the expertise to recognize the issues with respect to the US filing requirements and other cross-border issues for both US citizens and Canadians with US tax implications. We will assist you with these issues and if necessary refer you to our trusted US tax experts for more complex problems and tax return preparation.
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