Read about proposed Section 899 of the “One Big Beautiful Bill Act” that could significantly increase taxes on applicable U.S. income earned by residents of Canada.
Update: Section 899 was deleted by the House of Representatives before passage of the final legislation which was signed into law by President Trump on July 4, 2025. As a result, Canadians will not be subject to proposed additional taxes of up to 20 percent on gains realized from the sale of U.S. real property; income connected with a U.S. business or on U.S. based interest, dividends and rents.
