Jack has posted this blog post which should be of special interest to Canadians.
Hale Sheppard has a new article that should be of interest to Canadians. The article is introduced on his firm’s Blog, IRS Introduces Two Unique Remedies for U.S. Persons with Unreported Canadian Retirement Plans and Accounts, here. The article can be linked to in that blog entry or can be linked here. The summary of the article is:
Life isn’t fair. Neither is the IRS’s most recent settlement initiative designed to entice taxpayers to proactively resolve their international tax non-compliance, such as failing to report foreign income, foreign accounts, foreign entities, etc. In both instances, some people win and some people lose, often with little or no regard to what is equitable. Among those basking in the benefits of favored status lately are certain Canadians, residing either in the United States or the homeland, who have neglected their tax-related obligations with Uncle Sam. Continue reading