Canadian House of Commons Votes To Help U.S. IRS Seize Bank Records of Canadians
Contributed by Lynne Swanson

Recently, the Canadian House of Commons passed a law that will implement the United States Foreign Account Tax Compliance Act (FATCA) Intergovernmental Agreement (IGA) in Canada. With this law, Canadian financial institutions will turn over to the American Internal Revenue Service (IRS) the bank records of Canadians the U.S. defines as "US persons."
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U.S. Citizenship Based Taxation: Unique or Outrageous?
Contributed by Lynne Swanson

United States occupies a unique position in the world. Well, almost unique. This distinction is shared with one other country. Eritrea.

Yet, at the United Nations, U.S. and other countries condemned the tiny African nation for their practice.

U.S. and Eritrea are the only two countries that tax based on both residence and citizenship. Other countries tax worldwide income of residents, but not citizens living elsewhere.
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