U.S. Citizens in Canada InfoShop

2013 Dec 15 – Wood

 
Robert W. Wood
7 sins with bank accounts? FATCA makes them deadly
Forbes (15 Dec 2013)

http://www.forbes.com/sites/robertwood/2013/12/15/7-sins-with-bank-accounts-fatca-makes-them-deadly/

The itemized “sins”: failure by US persons to report income or assets to the United States; failure to file FBARs; recognition of possible extreme penalties; disregard of current IRS compliance programs; risks of quiet disclosure; failure to respect backfiling requirements; closing accounts in an attempt to conceal present circumstances.
 

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Written by usxcanada

15 December 2013 at 6:00 am