August 23, 2011 - Phil Hodgen

Canada Revenue Agency won’t collect FBAR penalties for IRS

It appears that Canada Revenue Agency will not help the IRS collect FBAR penalties from people in Canada who get hammered with reporting requirement penalties.  This is according to an opinion item in the Vancouver Sun.  I got a call from an IRS employee about this, in addition to comments on my blog.

I have not found the original source item that the columnist refers to.  I spent a few minutes poking around with Google to no avail.

Voluntary Disclosure