Category Archives: US Taxes
A recurring theme with FATCA is that Americans living in America simply don’t care about the problems the act creates for Americans living abroad. But maybe they should…
There are only two countries in the world that have a Citizenship-based taxation system, the United States and Eritrea. So let’s take a look and how the world reacts when a country without global political clout does it…
There are many unintended repercussions to US tax policy (not to mention their disproportional penalty system). Investing in the US is becoming riskier, as is immigrating there.
Navigating the US tax system can be rather daunting, and the penalties for innocent errors are far higher than seems reasonable. As someone accustomed to the relative ease and helpfulness of the CRA, stepping into IRS territory is enough to … Continue reading
For most income, the taxes paid to CRA offset anything that might be due to the IRS. That’s why most US citizens living in Canada owe nothing when they file their US taxes. But interest income earned in RRSPs is … Continue reading
When my friend Brian told me the American tax police were after him, I thought he must be nuts. Brian is a worrier. He gets a little paranoid sometimes. “We haven’t filed a U.S. tax return in 20 years,” he … Continue reading
If you’ve been caught in the “bait and switch” of OVDP, or have received notice of penalties for “quiet filing” that you feel are egregious, there may still be hope. The Taxpayer Advocate Service, the IRS’s “best kept secret,” may … Continue reading
Generally good advice when dealing with any company or government department, but particularly helpful for those of us currently trying to work with the IRS to become compliant with minimum damage to ourselves and our families.
To bring people back into compliance, the IRS instituted the Overseas Voluntary Disclosure Program (OVDP) in 2009, a program that the American Citizens Abroad (ACA) has termed a “scam.”