The Canada Revenue Agency (CRA) announced today the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts owed by the CRA to individuals and corporations. These rates will be in effect from October 1, 2026 to December 31, 2026. Income tax The interest rate charged on overdue taxes, Canada…
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US Tax transcripts: Know the different types and how to get them
IRS Tax Tips Aug. 26, 2026 Issue Number: Tax Tip 2026-65 Tax transcripts: Know the different types and how to get them Taxpayers may need to access their tax records or transcripts for many different reasons. It could be needed for filing a tax return, applying for a mortgage or loan, to name a couple…
e-Courier tax checklists
I am happy to announce that with the help of e-Courier, we have now activated our new and improved client checklists, for existing and new clients: If you have Canadian tax filing obligations: https://e-courier.ca/aQ?is=pjbioIICnfEz If you have US tax filing obligations: https://e-courier.ca/aQ?is=kzkQIoICmVpj Through the use of these checklists it will be easier to get me…
Ruling by US Court of Appeals on 'Net Investment Income Tax (NIIT)
The ‘Net Investment Income Tax (NIIT) is a 3.8% federal surtax on investment income for individuals, estates and trust with higher income. It was introduced in 20143 to help fund healthcare reforms. It is calculated on capital gains from selling stocks, bonds and real estate, dividends, interest income, rental and royalty income, and passive business…
CRA Interest rates for the third calendar quarter
The Canada Revenue Agency (CRA) announced today the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts owed by the CRA to individuals and corporations. These rates will be in effect from July 1, 2026 to September 30, 2026. Income tax The interest rate charged on overdue taxes, Canada…
British Columbia Budget 2026
British Columbia Finance Minister Brenda Bailey presented Budget 2026: Securing B.C.’s Future (“Budget 2026”) on February 17, 2026. Budget 2026 includes a major overhaul of BC’s income tax system. Highlights of these changes and related measures are outlined below. Income Tax Act Lowest Personal Income Tax Rate and Basic Personal Income Tax Credits Increased Effective…
CRA Interest rates for the second calendar quarter
The Canada Revenue Agency (CRA) announced today the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts owed by the CRA to individuals and corporations. These rates will be in effect from April 1, 2026 to June 30, 2026. Income tax The interest rate charged on overdue taxes, Canada…
Alberta Budget 2026
Alberta Budget 2026: Focused on What Matters (“Budget 2026”) was tabled February 26, 2026, by Minister of Finance Nate Horner. Tax measures in Budget 2026 include a new Alberta Caregiver Credit and a Vehicle Rental Tax. Details of these and other measures are outlined below. New Alberta Caregiver Credit Caregivers in Alberta are currently able…
IRS Individual Online Accounts: An easy tool for taxpayers
The IRS continues to take steps towards transforming the taxpayer experience in several ways. All taxpayers are encouraged to create an IRS Individual Online Account. While this is not a new tool, users are able to access their tax account information securely online and to help protect against identity theft and fraud. Anyone who can…
New and enhanced deductions for individuals on your American tax return
Issue Number: Tax Tip 2026-12 New and enhanced deductions for individuals There are several new tax deductions that have been introduced for the 2026 filing season. A deduction is an amount subtracted from the taxpayer’s income when filing. Deductions lower the taxable income resulting in lowering the federal income tax obligation. New deductions for 2026…