Just Me has written a lengthy response to the question, Has the IRS stolen your life? This is an important statement from the most famous minnow in the 2009 Overseas Voluntary Disclosure Program, about whom Amy Feldman wrote in her Reuters article. The IRS fined him $172,000 but the Tax Advocate Service managed to have it reduced to a non-wilful fine of $25,000. We are grateful for the contributions that Just Me has made to the Isaac Brock Society.
Caution to U.S. Citizens and U.S./Canada dual citizens who are residents of Canada about the IRS announcement (IR-2012-5) January 9, 2012, regarding Offshore Voluntary Disclosure
On January 9, 2012, the IRS announced a renewed Offshore Voluntary Disclosure program. This is an IRS program designed to bring tax cheats into compliance. During the last two disclosure programs in 2009 and 2011, a significant number of unsuspecting Canadian residents entered these programs to “make it right” with IRS. We strongly warn law-abiding Canadian residents of the dangers of entering this program which is intended to attract tax cheats who live in the United States but have undisclosed offshore accounts.