Born in USA? Have You Received the FATCA Letter?
Are you now or have you ever been an American citizen is a question that can now terrify people.
Were you born in the United States? Is one of your parents a U.S. citizen? Do you have a U.S. address or Green Card? Do you spend winters or substantial time in U.S.?
Are you just learning American Internal Revenue Service (IRS) wants you and your financial records? Welcome to your OMG moment shared by one million Canadians and their families.
On Canada Day, July 1, 2014, Canada surrendered Canadian citizens, residents, laws, constitution and sovereignty to a foreign bully under the American Foreign Account Tax Compliance Act (FATCA) mandating Canadian financial institutions to seek out the financial records of Canadians born in the U.S. or with some other U.S. connection for reporting to IRS with Canada Revenue Agency as an intermediary.
Have you received the FATCA letter yet? Be prepared if you do or if lawyers or accountants try to terrorize you into filing tax returns with the IRS.
Learn from Toronto lawyer John Richardson how FATCA affects you and what this means for Canada and all Canadians. Find out what your rights are as a Canadian citizen and resident—and what your Canadian government surrendered to the Americans in an unprecedented law that overrides all Canadian laws for a foreign bully..
Know your options before you do anything.
Have You Received the FATCA Letter interactive information session will be held Thursday April 23 in the Martha Bishop Room at Landon Branch Library, 167 Wortley Road from 6:00 to 8:00 p.m. $20 per person or $40 for a family of four. No pre-registration.
FATCA/IRS Information Session with John Richardson, London Ontario, April 23
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4 responses to “FATCA/IRS Information Session with John Richardson, London Ontario, April 23”
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Born in #USA? Live in #LdnOnt? Don’t let #IRS #FATCA u http://t.co/siDpEncxKf Info session April 23 http://t.co/6FATqWlZ4p
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RT @LynneBlaze: Born in #USA? Live in #LdnOnt? Don’t let #IRS #FATCA u http://t.co/siDpEncxKf Info session April 23 http://t.co/6FATqWlZ4p
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Only US citizen or US only resident are you US person for Canadian FATCA
Other countries FATCA may not use these rules
On Green Card
“I hold a U.S. green card. How does this affect my tax residency?
If you are a green card holder (that is, a lawful permanent resident of the U.S.), the U.S. considers you to be a U.S. resident.
However, if you are a resident of Canada for tax purposes and do not hold U.S. citizenship, you should not identify yourself as a U.S. person to your Canadian financial institution.”
http://www.cra-arc.gc.ca/tx/nnrsdnts/nhncdrprtng/ndvdls-eng.html
snowbird & others
5. If I spend a certain number of days in the U.S. over a period of three years, does the U.S. consider me to be a U.S. resident?
According to the IRS website, you (unless you are a U.S. citizen) are considered a resident alien for U.S. tax purposes if you satisfy the substantial presence test. This test uses the number of days you were in the U.S. during a three year period. The IRS website has more information to help you determine if you are a resident alien based on the substantial presence test.
The IRS also says that even if you are a non-U.S. citizen and you satisfy the substantial presence test for a particular year, you can still be considered a non-resident alien, if you meet certain conditions. One of these conditions is that you maintain a closer connection to a foreign country in that year.
http://www.cra-arc.gc.ca/tx/nnrsdnts/nhncdrprtng/fq-eng.html#q2-5
IRS Publication 519 states that the U.S. domestic rules that determine if a non-U.S. citizen is a U.S. resident do not override tax treaty definitions of residency. If you are considered a resident of Canada and the U.S. under each country’s laws and the Canada–U.S. tax treaty considers you a resident of Canada, the U.S. has to treat you as a non-resident taxpayer and you should not identify yourself as a U.S. resident to your Canadian financial institution.LikeLike
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From CRA:
“A U.S. resident is not generally someone who has economic and social ties that are closer to Canada than the U.S.”
They completely gloss over who might be a US citizen according to the INA and the IRS. This is typical dancing over the facts of what they have agreed to.LikeLike
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