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Tax season is over for Canadians, but Americans living in Canada – even those with Canadian citizenship – still face complex filing obligations imposed by U.S. authorities.

And it could be a punishing weekend for anyone who has not begun preparing for Monday’s deadline.

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“Americans living in Canada are required to file both a Canadian and a U.S. return, and [yet] many of them may be unaware of their obligations,” say tax specialists at H&R Block.

Unless they have gone through the formal process of renouncing their U.S. citizenship, Americans face potentially hefty penalties if they don’t report income and assets to authorities in the United States, even if they’ve already paid sufficient taxes in Canada and therefore don’t owe any in the U.S.

Dick Pound, a tax specialist at law firm Stikeman Elliott LLP in Montreal, says there appear to be many who still don’t know about the obligations despite a crackdown by U.S. tax authorities over the past couple of years.