U.S. Citizens in Canada InfoShop

2011 June 14 – McKenna

Barrie McKenna
U.S. taxman reaches north
Globe and Mail (24 June 2011) B1

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Many Canadian financial institutions “have already signed Qualifying Intermediary Agreements with the IRS, a first step toward giving U.S. tax authorities access to client data.” Janet Selby 47, accountant and corporate recruiter, spent only the first four days of her life in the United States. A query from her online broker only recently made her aware of “sweeping tax and reporting obligations.” Canadian Anthony Smith of Kelowna BC spent eleven years in Dallas as a network designer for Nortel. “Ending his obligations to the IRS after he surrendered his green card and returned to Canada in 2004 took years and cost him thousands of dollars.”

Written by usxcanada

14 June 2011 at 6:00 am