FATCA agreement signed, implementation Bill to come
The federal government has signed an agreement to help the United States catch tax-evading "US persons" living outside the US, including those with dual US-Canada citizenship.
American law turns Canadian banks into tax agents
Here is an issue you might need to keep in mind in the coming months. As it stands, a recent United States tax law will require Canadian banks nd other financial institutions (including credit unions, pension managers, insurance companies, and others) to provide some Canadian (and American) citizens’ information to the American Internal Revenue Service (IRS). The US Foreign Account Tax Compliance Act, which is set to come into effect through 2013 and 2014, aims to catch tax-evading “US persons” living abroad, including those with dual US-Canada citizenship
