The American Institute of CPAs is asking the Treasury Department to provide tax relief to the cross-border savings accounts of U.S. and Canadian citizens.
In a letter that the AICPA sent Friday to the U.S. Treasury Department, the Institute asked the Treasury to adopt three specific recommendations that would provide tax relief to citizens of the United States and Canada who have various cross-border deferred and tax-exempt savings accounts which are often subjected to double taxation and unexpected current inclusion in income.
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