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View Full Version : FACTA- interesting news


thomachan72
09-23-2011, 02:18 PM
Flaherty takes on IRS over tax crackdowns in Canada - Business - CBC News (http://www.cbc.ca/fp/story/2011/09/16/5413714.html)

go_guy123
09-23-2011, 04:40 PM
Flaherty takes on IRS over tax crackdowns in Canada - Business - CBC News (http://www.cbc.ca/fp/story/2011/09/16/5413714.html)

US Citizens are supposed to report and get taxed on all worldwide incomes.

After IRS success with UBS and the Switzerland capitulation, I wont be surprised if Canadian banks capitulate and give account information of US citizens to IRS...or risk be out of US markets....same they did to Swiss banks.

But I am interested too see how IR "arm twists" Hong Kongs banks....with China behind them....we will see who is the man.