tag:blogger.com,1999:blog-4402283548766807872.post7206520145075130704..comments2024-03-20T02:26:06.500-04:00Comments on The Blunt Bean Counter: Privacy Laws in Canada and the Income Tax ImplicationsThe Blunt Bean Counterhttp://www.blogger.com/profile/11358868550072516313noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-4402283548766807872.post-26381936904568660212011-08-03T13:08:06.085-04:002011-08-03T13:08:06.085-04:00Hey Anon
I no longer file US tax returns, however...Hey Anon<br /><br />I no longer file US tax returns, however, I did up until last year and it was my experience with several people in your situation that if you owe no US income tax and have just been unaware of your filing requirement, that if you file 3-6 years returns (there are differing opinions on the number of years to be filed) the IRS is satisfied in that you are back in the system and I have not had them assess any penalties in these situations.<br /><br />I am not fully aware of the details of the amnesty, so it may be more conservative to use the amnesty to ensure you avoid the penalties.<br /><br />In any event I would not be terrified, just engage a US tax preparer and have them make the decsion whether you need to file the amnesty or just file a few years catch up.The Blunt Bean Counterhttps://www.blogger.com/profile/11358868550072516313noreply@blogger.comtag:blogger.com,1999:blog-4402283548766807872.post-66794149705215535252011-08-03T12:42:38.254-04:002011-08-03T12:42:38.254-04:00Anonymous #2 here. I just discovered that as my fa...Anonymous #2 here. I just discovered that as my father was US citizen so am I. I've never filed anything to IRS, but am completely compliant with Revenue Canada (I've only ever lived in Canada). Some lawyers are telling me that the tax amnesty ending on Aug. 31 is my best bet. Others are saying I don't need the amnesty as long as I voluntarily start filing. I am very confused and terrified of the penalties I'm hearing. Any advice would be greatly appreciated!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4402283548766807872.post-54685178657988373702011-08-01T20:50:00.645-04:002011-08-01T20:50:00.645-04:00Yikes! This is all to big-brotherish for me! I hav...Yikes! This is all to big-brotherish for me! I have held dual citizenship since 1993, and still carry a US passport. I have not filed a US tax return for the last 15 years, as it became so difficult to get into the US consulate in Toronto to get tax forms that I simply quit filing. I would not owe the IRS any money, anyway, and since I have never paid into the US social securtiy system, I would not be eligible for receiving Social Security payments. The implications of this is very disturbing.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4402283548766807872.post-41546075444662920052011-07-04T08:38:13.566-04:002011-07-04T08:38:13.566-04:00Rob, excellent point regarding the Patriot Act; ho...Rob, excellent point regarding the Patriot Act; hopefully the question of whether certain US citizens living in Canada are not filing tax returns does not require the FBI's assistance.The Blunt Bean Counterhttps://www.blogger.com/profile/11358868550072516313noreply@blogger.comtag:blogger.com,1999:blog-4402283548766807872.post-64498336882833467032011-07-04T03:45:38.461-04:002011-07-04T03:45:38.461-04:00Good post Mark. I was reading looking for ties to ...Good post Mark. I was reading looking for ties to the overall changes in privacy that are occurring all around us. Obama continues the Patriot Act which lets FBI go data snooping without warrants etc The world is becoming smaller - there is no place to hide anything anymore.robhttps://www.blogger.com/profile/14934159418646747117noreply@blogger.comtag:blogger.com,1999:blog-4402283548766807872.post-34472111420204203622011-07-03T10:24:42.643-04:002011-07-03T10:24:42.643-04:00Anon, you are not who the US is looking for. You h...Anon, you are not who the US is looking for. You have already complied with your US filing obligations by filing your US return and providing the list of Canadian accounts requested by the IRS. They are looking for people who have not filed the required US tax returns by virtue of citizenship or holding a greeen card.I assume the IRS will cross reference US citizens with Cdn accounts and see if they have filed US tax returns or not.The Blunt Bean Counterhttps://www.blogger.com/profile/11358868550072516313noreply@blogger.comtag:blogger.com,1999:blog-4402283548766807872.post-6746044478392012962011-07-03T01:01:28.708-04:002011-07-03T01:01:28.708-04:00As a dual US/CDN citizen I have never been asked b...As a dual US/CDN citizen I have never been asked by any bank as to my citizenship. They've always been happy to get a copy of my drivers license and be done with it.<br /><br />On the US side though, I have to file a list of foreign (Canadian)bank accounts and balances each year.<br /><br />I wonder what will happen if the US ever wants to look at my President's Choice checking account....?Anonymousnoreply@blogger.com