IRS 2011 Offshore Voluntary Disclosure Initiative Deadline Almost Here

[BubberMiley]

I think the U.S. is the only country in the world that makes its citizens file a tax return even if they don't live in, work in, or go anywhere near the country.

For years, it was easy to ignore this law, but now with linked up databases all sharing information under the Foreign Account Tax Compliance Act, it's getting impossible to do so anymore. So shmoes who are stuck with U.S. citizenship but no desire to live in the U.S. are forced to comply. And you can't even renounce your citizenship without an extreme hassle. It's like the Hell's Angels. Once you're in, you're in.

September 9 is the deadline (extended because of Hurricane Irene). If you're in this boat too, it's time to talk to your accountant post haste.

Edited September 3, 2011 by BubberMiley

[msj]

September 9 is the deadline (extended because of Hurricane Irene). If you're in this boat too, it's time to talk to your accountant post haste.

Yes, but talk to a US accountant.

I have been referring my Canadian resident/US citizens to a couple of US tax accountants and, man, are they (the CDN residents and the US accountants) angry with this bureaucracy.