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One Big Beautiful Bill Act (OBBBA) Key Tax Changes Source CCH AnswerConnect editorial insights (as provided in the original handout) Last updated July 2025   At a glance Individual Rates and Capital Gains Individual Deductions, Credits, & Exclusions Personal Tax Cre...

International Treatment of Stock Options U.S. and Canada (2025-2026) Serbinski Accounting Firms, PC | Serbinski Partners PC December 22, 2025 Contents I Comparison of the Taxation of Equity Based Compensation (Stock Options) in the United States and Canada 1.01 Introduction 1.02 U.S. Income Taxati...

What’s New for the 2025 CanadianPersonal and Corporate Tax-Return Season Summary of key CRA and federal updates impacting 2025 T1 and T2 filings Serbinski Partners PC | Chartered Professional Accountants (Toronto)Serbinski Accounting Firms, PC | Certified Public Accountants (Chicago) Tax-return sea...

What's New for U.S. Personal and Corporate Tax Filing 2025 and 2026 Filing Seasons Prepared by Mark T. Serbinski, CA (Ont.), CPA (Ont.), CPA (Illinois & Florida) Serbinski Accounting Firms, PC • Serbinski Partners PC 1-888-US TAXES (878-2937) • serbinski.com Copyright ©2026 by Mark T. Serbinski...

The IRS has issued Rev Proc 2020-17 on March 2, 2020 which eliminates the requirement to file forms 3520 and 3520-A for certain foreign trusts.  The new rules further set out procedures to obtain refunds of penalties previously assessed for failure to file these forms for any open year, if co...

The following deadline dates apply to Canadian returns which are required to be filed during 2026. To avoid penalties all returns must be postmarked by the due date specified:   Individuals   April 30, 2026 Deadline to file 2025 personal income tax returns to the CRA and Revenue Quebec. Deadline f...

In order to cease to be taxable in Canada, an individual must give up Canadian residence, and in the case of non-U.S. citizens, U.S. residence. A U.S. citizen may cease to be taxable in the U.S. only under certain circumstances, and only by revoking U.S. citizenship before a consular officer. R...

The Canada U.S. Income Tax Convention (Treaty) currently in force was first established in 1980, and since that time there have been five major alterations, or "protocols" adopted at various times. The latest, Fifth Protocol, contains some major changes, which could change the way in which tax law i...