U.S. Citizens in Canada InfoShop

2012 July 3 – Krishna

Vern Krishna
An unnecessary overreaching of U.S. tax law into Canada
Financial Post (3 July 2012)


A Canadian tax lawyer offers a commendably critical assessment of recent moves by U.S. taxation and reporting authorities. “In light of the galloping U.S. deficit, however, the IRS has awakened and is hunting for tax dollars under every rock to finance its government’s profligate spending. Canadian-Americans are now in the IRS’s headlights.” The article touches on the nature of U.S. taxation, the border-passport factor, the uncertainty of “reasonable cause,” the latest IRS policy adjustment, the implementation of FATCA, and the convolutions of citizenship renunciation.

Written by usxcanada

3 July 2012 at 6:00 am

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