AICPA recommends that Treasury implement measures to reduce tax and reporting burdens associated with various cross-border deferred and tax-exempt savings accounts

The American Institute of CPAs is asking the Treasury Department to provide tax relief to the cross-border savings accounts of U.S. and Canadian citizens.

In addition, the AICPA urged the Treasury Department to work with the Canadian Department of Finance to provide similar relief as appropriate.  Requests comparable to the AICPA’s are being submitted by the Chartered Professional Accountants of Canada

FULL ARTICLE http://isaacbrocksociety.ca/2016/03/07/aicpa-recommends-that-treasury-implement-measures-to-reduce-tax-and-reporting-burdens-associated-with-various-cross-border-deferred-and-tax-exempt-savings-accounts/

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