U.S. Citizens in Canada InfoShop

2013 Jan 15 – McKenna

 
Barrie McKenna
U.S. expats in Canada face new Obamacare health care tax
Globe and Mail (15 Jan 2013)

http://www.theglobeandmail.com/report-on-business/international-business/us-business/us-expats-in-canada-face-new-obamacare-health-care-tax/article7372249/

The new 2013 tax on investment income of 3.8% for wealthier U.S. extraterritorials may vitiate the supposed relief (strangely described as an “amnesty”) provided in 2012 by a special “streamlined” IRS program for previous nonfilers. Higher U.S. income tax rates, intergovernmental tax information sharing, and steep penalties pose further legal and financial hazards. McKenna quotes four different tax law and accounting professionals who stand to profit from generating fears. Consequently, this poor excuse for journalism amounts to a single-source infomercial for this class of “professionals.” In Kevyn Nightingale’s estimation, “tens of thousands of Americans living in Canada could be affected.”
 

Written by usxcanada

15 January 2013 at 6:00 am

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