If you haven’t been keeping up with the travails of IJ, on Jack Townsend’s blog, you have missed a remarkable story.
IJ is a Chinese immigrant to America who came to our shores via Canada. He got caught up in the OVDI, and after a long struggle decided to “Opt Out”. He was prepared to fight in the Court of Appeals, if necessary! But, thankfully, reason at the IRS’s Opt Out management review committee did prevail, and he was finally released from this lengthy OVDI torture with just a FBAR warning letter. Frankly, that was all that was ever necessary to obtain a compliance objective. It was the correct decision. You can read more of IJ’s story, at this post.