Weekly Tax Tips
U.S. citizens and green card holders in Canada – tax return filing deadline
Date: 25 Mar 2011
The U.S. system of taxation differs from that of Canada and most other countries in that it establishes a liability to pay on the basis of citizenship, as well as residence. U.S. citizens and green card holders (who are treated like U.S. citizens for U.S. tax purposes) must file annual U.S. tax returns regardless of where they live or how long they have been away from the U.S. The U.S. return for a particular year is normally due April 15th of the following year (for 2010 returns, the due date is April 15, 2011), with an automatic extension to June 15th if the individual is resident outside the U.S. on the normal deadline.
Many U.S. citizens living in Canada tend to ignore their filing obligations if the return does not result in any taxes actually being paid. However, failure to file the required returns on a timely basis may result in the taxpayer losing the right to make certain important elections if the failure to file is discovered by the IRS.
This tax tip is a publication of BDO Canada LLP on developments in the area of taxation. This material is general in nature and should not be relied upon to replace the requirement for specific professional advice. The information in this tax tip is current as of 25 Mar 2011.
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