Canadian retirement plan beneficiaries get relief


Under the U.S.-Canada tax convention, beneficiaries in an arrangement exempt from taxation by Canada and operated exclusively to provide pension or employee benefits may defer U.S. recognition of income accrued in the plan but undistributed. A recently issued revenue procedure (Rev. Proc. 2014-55) provides new procedures for making this election, one for beneficiaries who are eligible individuals (as defined in the revenue procedure) and one for beneficiaries who are not eligible individuals.

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Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.

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Solving the lease accounting challenge

The challenges of the new lease accounting standard have been pervasive to say the least. In this free, independently-written report, you'll learn effective adoption strategies as well as resources for easing the transition to the new standard.