Cdn tax cheats come clean amid close scrutiny of #offshore havens soa.li/erGtyKh – Only payment of back taxes no penalties #FBAR
— U.S. Citizen Abroad (@USCitizenAbroad) April 15, 2013
Taxpayers who disclose unreported income under the program not only avoid penalties and legal action, but the Canada Revenue Agency routinely waives partial interest on the overdue amounts as well, under little-known rules.
Perhaps Form Nation could learn something from this.
Simpler, cleaner and better!