Canadian Protections Against Uncle Sam

Uncle Sam MoreCanadians, Uncle Sam wants you. Actually, he doesn’t want you. He wants your money. Uncle Sam thinks he has the right to know about your money which was earned, saved, invested and taxed in Canada just because you were born in his country.

In Canadian Protections Against IRS, Lynne Swanson (aka Blaze) outlines some of the protections Canadian citizens and residents have against the IRS.

This was written in response to a couple of articles in The Money Guide advising Canadians of their obligation to IRS and recommending filing “before it is too late.”

I intentionally did not focus on the options for filing in this article.  That is covered elsewhere in The Money Guide. Instead, I chose to focus on the protections and some of the FATCA issues (but with a different approach than in the Financial Post article).

I gave links to Maple Sandbox and Brock in my submission. However, this was not included in The Money Guide Post. Instead, they linked to an their Tax Guide For US Citizens Living in Canada.

This article was posted as Guest Poster, but Lynne Swanson’s information is at the end.

 

 

 

 

 

 

3 thoughts on “Canadian Protections Against Uncle Sam

  1. AtticusinCanada

    Lynne, that article is just wonderful! I really am impressed with your ability to be so concise in outlining the problems with this FATCA legislation. There was no reason for Canada to even be included in a “Tax Cheat” regime as no one in their right mind would run to Canada for the purpose of escaping taxes! The would be very poor planning indeed! Most people who come here and stay are the type who do not mind paying higher taxes for the betterment of the society they live in. Most think in fact it is a GOOD idea to pay some more and build a better country for everyone.

    Reply
  2. WhiteKat

    Wow Lynne, you never cease to impress! Keep on buzzing!

    The timing of this article is perfect, just as more and more people are becoming aware of FATCA and CBT, and may be frightened into action before taking the time to try to understand all the issues.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

Optionally add an image (JPEG only)