Canadian residents hit by Trump repatriation tax dealt a new blow https://t.co/67uLAfhGkh #cdnpoli #tax #TaxReform
— Elizabeth Thompson (@LizT1) August 13, 2018
Another good article by the Elizabeth Thompson. It would appear that compliance with the “transition tax” is getting more and more difficult. The article begins with:
Thousands of Canadian residents hit hard by a retroactive tax signed into law by U.S. President Donald Trump have been dealt another blow, CBC News has learned.
Newly proposed regulations issued by the U.S. Treasury Department and the Internal Revenue Service threaten to increase their tax hit.
“You have to almost empty out your company and pay a lot of Canadian tax to avoid the U.S. tax,” said Kevyn Nightingale, a partner with the accounting firm MNP.
Interestingly, Ms. Thompson does reference the Solomon Yue American Chamber of Commerce meeting this Thursday August 16 in Toronto.
The comments seem less vicious today (at least so far).
BB–thank you for the kind note. What a racket the us was (past tense intentional). EVERYTHING was a hustle,a racket for economic expansion. What an empty, broken, and soulless place to “live” or be associated with . All roads lead to renounciation. Beg, borrow, and steal to get that $2,350 and drop the the usa , avoid it like a paedophile, avoid it like the plague, avoid it like a hornet’s nest.
Those that “enjoy” the us, or “tolerate” it are likely brain damaged (cluster B pathology), or lust after hustling permutations due to the wool is their eyes brain washing.
You’all missed the boat when you thoughht they would write you out of the new tax bill and they stuck it to you again.
You will never get the golden opportunity to dump tjhe entire code and I never saw one article that advocated the total repeal, and now you ar screwed , ballyhood and tattoted.
The FairTax was the only good alternative and the Issac Broock Society has never even mentioned it.
Hopefully we will win without a lawsuit. However, the Treasury has violated a few federal laws in issuing the proposed 965 rules and on of the laws grants us judicial review. So we will wait and see what Treasury does and then decide. Be optimistic