edward222
09-17-2015, 05:00 AM
Credit to: Tax Avoidance News (http://www.offshorenewsflash.com/) : Court ruling allows transfer of Canadian tax info to U.S. to begin under FATCA (http://www.offshorenewsflash.com/2015/09/16/court-ruling-allows-transfer-of-canadian-tax-info-to-u-s-to-begin-under-fatca/)
A federal court judge dismissed an attempt to put an early stop to a controversial program in which the Canadian government agreed to share financial information of an estimated one million “U.S. persons” living in Canada with the Internal Revenue Service.
Particularly troubling to some opponents is that the agreement to transfer information to the U.S. tax authority captures so-called “accidental Americans” who live in Canada with no ties to the United States.
Wondering what will be the out come of this.
A federal court judge dismissed an attempt to put an early stop to a controversial program in which the Canadian government agreed to share financial information of an estimated one million “U.S. persons” living in Canada with the Internal Revenue Service.
Particularly troubling to some opponents is that the agreement to transfer information to the U.S. tax authority captures so-called “accidental Americans” who live in Canada with no ties to the United States.
Wondering what will be the out come of this.