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)


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.

Written by usxcanada

15 December 2013 at 6:00 am

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