Catching Minnows Instead of Whales

I like Joe Kristan’s terminology for the IRS’ efforts going after anyone who hasn’t filed an FBAR…even if they don’t really owe any additional tax: Using a shotgun to get jaywalkers. Of course, that’s all part of the kindler, gentler IRS….

Well, the FBAR and current Offshore Voluntary Disclosure program are getting attention north of the border. Don Cayo of the Vancouver Sun has written two excellent article on the situation: “Americans living in Canada risk facing massive tax penalties” and Ordinary citizens or big banks: the IRS threatens them all.

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This entry was posted on Monday, August 22nd, 2011 at 3:14 am and is filed under International. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

One Response to “Catching Minnows Instead of Whales”

  1. Revenue Canada Says “Just Say No” to the IRS says:
    August 24, 2011 at 2:27 pm

    […] Last Sunday I linked to two well-written articles by Don Cayo of the Vancouver Sun. One question that has interested individuals residing in Canada who are impacted by FBAR (Form TD F 90-22.1) is whether the Canadian tax authorities would collect penalties on behalf of the IRS. […]