Tax Info
Regular CRA/IRS tax updates and cross-border knowledge — sourced, for general information.
56 articles
When Hong Kong Policies Get Taxed: What China's Enforcement Push Means for Canadian Insurance and IFA Structures
China has begun assessing individual income tax on gains from offshore insurance policies. The product rules in Canada have not changed — but for clients who are still Chinese tax residents, the analysis now has a second half.
China's Offshore Trust IIT Rules Land: Look-Through Taxation Arrives for Cross-Border Wealth Structures
MOF/STA Announcement No. 21 of 2026 sets out China's first systematic individual income tax regime for offshore trusts: funding a trust can be a deemed disposition, income accruing inside the structure may be reportable annually on a look-through basis (CFC/PFIC/FAPI-style anti-deferral), and loans or paid expenses can be deemed distributions. With practical notes on China–Canada–US mismatch and the 90-day catch-up window.
IRS Circular 230 AI Guidance: Compliance Risks for Tax Pros and Cross-Border Filers
IRS OPR's June 2026 guidance applies Circular 230 to AI use. Learn compliance risks for tax pros and cross-border filers.
OBBBA Changes Effective in 2026: What Cross-Border Taxpayers Should Watch For
Learn about OBBBA changes effective in 2026 that impact cross-border taxpayers, including key provisions and filing tips from Accounting Today.
CRA Penalties on Newcomers for Late Foreign Property Reporting: T1135 Compliance Tips
Learn about CRA penalties for newcomers who miss T1135 foreign property reporting deadlines. Get compliance tips to avoid fines and stay onside with Canadi
IRS Automatic Penalty Relief: What Cross-Border Filers Need to Know
Learn about the IRS's new automatic penalty relief for eligible taxpayers with timely filing history. Essential info for cross-border filers.
2027 HSA Contribution Limits Announced — What Cross-Border Workers Should Know
Revenue Procedure 2026-24 sets 2027 HSA limits. Learn what cross-border workers in Canada and the US need to know about inflation-adjusted contributions.
IRS Provides Gift Tax Safe Harbor for Trump Account Contributions — Implications for Cross-Border Donors
Revenue Procedure 2026-25 provides a gift tax safe harbor for Trump Account contributions. Learn implications for US-Canada cross-border donors.
Treasury and IRS Provide Gift Tax Safe Harbor for Contributions to Trump Accounts
On June 29, 2026, the Department of the Treasury and the IRS issued Revenue Procedure 2026-25 (IR-2026-80), establishing a gift tax reporting safe harbor f
IRS and Security Summit Launch Summer Series to Help Tax Pros Protect Clients from Identity Theft
On July 7, 2026, the IRS and Security Summit partners launched the "Protect Your Clients; Protect Yourself" summer campaign (IR-2026-81), a five-week educa
Treasury and IRS Issue Final Regulations Naming Certain CRAT Transactions as Listed Transactions
On July 8, 2026, the Department of the Treasury and the IRS issued final regulations (IR-2026-82) identifying certain Charitable Remainder Annuity Trust (C
IRS Simplifies Penalty Relief, Introduces Automatic Process for Eligible Taxpayers
On July 8, 2026, the Internal Revenue Service announced a streamlined penalty relief process that will automatically waive certain penalties for taxpayers