- NY Credits : 1.0
- TX Credits : 1.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 1.0
This course provides a brief overview into common items that a taxpayer needs to know when doing business across the border between the United States and Canada, including the two tax systems and the tax treaty that is in place between the United States and Canada. It covers the concepts of permanent establishment; effectively connected income; and residency under the green card test and the substantial presence test. This course has been updated for IRS Notice 2020-23, which provides relief to persons affected by the COVID-19 pandemic by postponing until July 15, 2020 specified federal filing and federal payment obligations due to be performed on or after April 1, 2020 and before July 15, 2020.
Upon successful completion of this course, the user should be able to:
identify key elements of the tax treaty between the United States and Canada,
recognize a resident with permanent establishment and substantial presence, and
identify potential tax issues as they relate to property ownership.