There is a summary statement of the problem which you can read by clicking here. For a compendium of information -- links to official documents, media coverage, and so forth -- click on Russ Hunt's ustaxinfo Web site. To join the email list for discussing the issue, send an email to ustax-on@stu.ca, and confirm when you get a reply.
We encourage you to comment on this blog, or send your ideas for action to the email list, at ustax@stu.ca. We'll be posting suggestions for actions on this blog; most immediately, it seems useful to write your MP (and Finance Minister Flaherty, perhaps thanking him for his public stance on this, and expressing concern that the FBAR requirements have yet to be addressed).
I just took a look at the new IRS information sheet, and it sounds like FBAR is how they plan to get their hands in Canadians' pockets. If you don't owe back taxes, you won't get fined, but you can get fined just for failure to _file_ FBAR, whether you owe taxes or not.
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