Alexander Marino is quoted in the Newsweek article: “Thousands Renounce US Citizenship as Expatriation Figures Near Record High,” October 30, 2026.
Alexander Marino appeared on CONNECT With Sarah Crosbie on Corus Radio on August 25, 2026, to discuss to discuss US Citizenship Renunciation in wake of the Canada-US trade war.
Alexander Marino is quoted in The Guardian article:“‘I don’t want to be part of a dictatorship’: the Americans queueing up to renounce their citizenship”, April 28, 2026.
Alexander Marino was a guest on the “This is Ottawa” CBC podcast episode titled ‘I feel alienated from my U.S. identity’ on March 23, 2026.
Alexander Marino was interviewed for the CBC news story “Dual citizens weigh Trump, taxes in decision to renounce US citizenship” on March 23, 2026.
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Taxation of restrictive covenants – caution when trying to qualify for exceptions to full income inclusions!
Our firm has written about the taxation of restrictive covenants many times before. Section 56.4 of the Income Tax Act is mind-numbingly complex. However, to oversimplify, if a person grants a restrictive covenant, such as a non-compete agreement (which is often part of a purchase and sale agreement for the sale of business), then the person granting the covenant needs to concern themselves with the new section 56.4. If section 56.4 applies, then any amount received or receivable by the grantor (or deemed to be received or receivable pursuant to section 68 of the Act – I call this the “deemed receipt” rule) in respect of that restrictive covenant grant will be taxed as a full income inclusion. This surprises many taxpayers…
T1135: 2013 transitional relief is permanent
In our blog “T1135 transitional guidance” we reported that the Canada Revenue Agency (CRA) developed transitioning rules which were welcomed relief to taxpayers, but applied only to the 2013 tax year reporting period.
On July 8, 2014 the CRA announced that these T1135 transitioning rules will become permanent for 2014 and thereafter, but there are a few significant twists.
Amended IRS voluntary disclosure programs expand eligible taxpayers but create the Canadian snowbird dilemma: Part 1
On June 18, 2014, the IRS announced significant changes to its current offshore voluntary disclosure programs to ease the tax compliance burden for both residents and nonresidents of the United States who are not compliant with their US tax filing obligations. Additionally, the IRS announced new procedures for delinquent FBAR (FinCEN Form 114) or information return (e.g., forms required to report ownership of foreign trusts, controlled foreign corporations, passive foreign investment companies, etc.) submissions. Links to all the revised procedures are accessible from here. These new changes generally clarify and expand the class of individuals eligible for the IRS’s streamlined filing compliance procedures and make the current offshore voluntary disclosure program (OVDP) even more burdensome than it already is. Yet, these changes also pose many new questions and, like any new administrative program, it is uncertain how these changes will be implemented by the IRS in practice.
Five things Canadians need to know before selling US real estate
With the Canadian dollar weakening and the price of US real estate rising, many Canadians who have previously purchased US real estate may now be tempted to sell. Those who purchased after the epic US real estate meltdown may walk away with a hefty profit. However, it is important for every Canadian who is considering selling US real estate to be aware of certain key US and Canadian tax issues in order to avoid getting mired with potentially disastrous consequences. The following are the five key tax issues for a Canadian resident planning to sell personally-owned US real estate, assuming the individual is not a US citizen or otherwise a US person (a determination which is surprisingly complex).
What is so civil about penalties, anyway?
When it comes to tax law, governments have two main arrows in their quiver: governments require taxpayers to pay taxes that are assessed on the basis of income or other factors (such as specific transactions, use of certain resources, etc.) and also require that taxpayers file a number of forms and documents. The primary purpose of these documents is, at least theoretically, to ensure that a taxpayer is complying with all payment obligations, not to independently generate revenue.
But sometimes the reporting horse comes unhitched from the revenue cart.
FATCA – A Canadian perspective / commentary
As many of you know, our firm has been very active in the “FATCA” space. A quick review of our last 10 blogs or so (which you may read by clicking here) should be obvious of that. Much of our activity has been ensuring that our clients and friends are ready when the July 1, 2014 implementation date arrives. In addition, we have been very active in responding and providing commentary to Canada’s draft legislation, which is necessary to give effect to the inter-governmental agreement (“IGA”) between Canada and the US that was signed by both countries in early February 2014.
However, the purpose of this short blog is not to further analyze the horrendously complex underpinnings of FATCA (which is US law), the IGA, the draft Canadian implementing legislation and the soon-to-be released Canadian guidance notes, but instead comment on some of the criticism that has flooded the “interwebs” regarding FATCA, the various Intergovernmental Agreements (“IGAs”) and specifically, Canada’s legislation.
Alexander Marino is quoted in the Newsweek article: “Thousands Renounce US Citizenship as Expatriation Figures Near Record High,” October 30, 2026.
Alexander Marino appeared on CONNECT With Sarah Crosbie on Corus Radio on August 25, 2026, to discuss to discuss US Citizenship Renunciation in wake of the Canada-US trade war.
Alexander Marino is quoted in The Guardian article:“‘I don’t want to be part of a dictatorship’: the Americans queueing up to renounce their citizenship”, April 28, 2026.
Alexander Marino was a guest on the “This is Ottawa” CBC podcast episode titled ‘I feel alienated from my U.S. identity’ on March 23, 2026.
Alexander Marino was interviewed for the CBC news story “Dual citizens weigh Trump, taxes in decision to renounce US citizenship” on March 23, 2026.
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