Attribution Rules

  

Categories: Tax, International

A set of rules created by the Canadian Revenue Agency to lay the smack down on investors who try to transfer assets to family members in a different tax bracket to try to avoid taxes on those assets. And you thought the IRS was tough...do you think the Canadian agents are mounted?

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Finance allah shmoop What is the i r s Well

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i rest might be the three most hated letters in

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revenue service Their internal i e inside the government they're

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in charge of collecting revenue A k a They take

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money from your pocket in the form of taxes and

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they deliver it to uncle sam and they you know

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service you and it doesn't feel good So yeah these

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to make sure you filled out your income tax forms

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correctly and submitted the proper amount And if you screwed

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it and a half in the form of angry letters

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back window Whatever it takes to get you to pay

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they owed Or the irs can do even worse and

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audit you with an audit he irs will request extensive

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and very specific information and records from you Paycheck deductions

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all kinds of things You claim that you did that

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