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Being Canadian, this strikes close to home. It seems like the crackdown was directed mostly at the rich to target tax evasion, but it has had the ~1 million Am
by peeters 15y ago
Being Canadian, this strikes close to home. It seems like the crackdown was directed mostly at the rich to target tax evasion, but it has had the ~1 million American citizens in Canada trembling. Many of these people have not lived in the States at any point in their life (often born into dual citizenship), and all of a sudden they're being threatened with penalties for not filing taxes in the U.S.
My last impression from the U.S. Ambassador was that there would be reasonable reprieve for dual U.S.-Canadian citizens. Has that happened?
- philiphodgen 15y agoNo reprieve yet and it appears that the IRS still wants to take 25% of your RRSP if you didn't file the right price of paper with the IRS. I'm meeting with the IRS in Washington on May 7 to propose an easy remedial system. We shall see. But yeah. The IRS went hunting for whales and caught minnows.