US Income - CPA Academy free training, Tax Treaties Introduction

On Monday, August 29, 2022 at 7:30 am Mountain time, the CPA Academy is running a free class providing an Introduction to Tax Treaties. I recommend this as a good foundation for starting to understand the US tax filing requirements for Canadian Tax Residents and for Dual Citizens.

Membership in the CPA Academy is free.

I attend regularly to learn about apps, workflows, best practices, soft skills, and more. Most classes are excellent. Rarely do I ever regret attending. Usually I take away at least one golden nugget of learning.
I find their US tax trainings to provide an excellent overview and/or introduction to various US topics including:

  • Who needs to file US tax returns such as Canadian snowbirds, Canadian land owners, Canadians owning US based bank accounts, Canadian selling into the US including via etc.

  • How the US calculates dates and tax filing requirements.

  • How the US determines the various tax filing requirements for visitors, temporary residents, dual citizens, related family members, bank account holders, investment holders, property holders, owners of small businesses including vacation rental properties, and more.

  • US sales tax for ecommerce.

  • US income tax for ecommerce.

  • Canadians with temporary US residency as students, sub-contractors, short term contracts, etc.

Wishing you all the best for this fall and the upcoming tax season.


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Here is another free presentation by CPA Academy.

If your name appears as a US held bank account, even a jointly held bank account, then you may be subject to the FBAR rules.


Wednesday, August 31, 2022: 2:00 PM MDT

In the foreign information reporting context, arguably no form creates as much consternation in the context of penalty exposure as the Foreign Bank Account Report (better know as the FBAR). Statutorily, willful failures to file FBARs create massive penalty exposure: the greater of $100,000 or 50% of the balance of unreported accounts for the year in question (with a six-year civil statute of limitations). In the FBAR penalty context, the primary focus is typically given to the interpretation of the “willful” standard - and how it connects to maximum penalty exposure.

Learning Objectives:

  1. Summarize the FBAR reporting requirements - both direct and indirect.
  2. Evaluate applicable penalties (willful and nonwillful), and detail case law interpretations of the willful standard to date
  3. Identify Internal Revenue Manual limitations to both willful and nonwillful penalty assessment, as well as proactive disclosure options where prior reporting failures have occurred