FATCA

North America | 8 Dec 11

Tax experts with American expatriate clients reacted with considerable interest yesterday to a new IRS clarification that appears to suggest more flexibility, with respect to penalties for failing to file tax returns and Foreign Bank Account Reports (FBARs), than previously had been assumed possible.

North America | 4 Dec 11

Americans living in Canada who owe back taxes to the US may be about to get a break from the Internal Revenue Service, the Toronto Globe and Mail is reporting, citing as its source the US ambassador to Canada.

North America | 10 Nov 11

What is said to have been the first citizenship renunciation meeting ever held in Canada took place at the US consulate in Toronto last month, as some 22 Americans sought to end once and for all the hassle of being a US expat, the Canadian Globe and Mail reported yesterday.

North America | 22 Sep 11

Canadas finance minister has criticised the US for its aggressive pursuit of Canadians as part of its ongoing crackdown on overseas tax evasion.

North America | 15 Sep 11

A PwC expert has warned that initiatives similar to FATCA may be adopted by other countries.