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Filing A Dual Status Tax Return

A dual-status tax year exists when you are treated as both a U.S. resident and a nonresident for tax purposes during the same calendar year. It usually occurs the year that you arrive or depart from the United States. Different tax rules apply to the part of the year in which you are the U.S.

Audits Involving Offshore Accounts

On February 5, 2013, Canada and the United States announced that they had signed an intergovernmental agreement (“IGA”) implementing the Foreign Account Tax Compliance Act (“FACTA”), showing additional worldwide support for the United States’ initiative to prevent global tax evasion.