Banks bracing for U.S. law requiring they inform on dual citizen accounts
By Julian Beltrame - Wednesday, November 28, 2012 - 0 Comments
The U.S. Internal Revenue Service has put dual U.S.-Canadian citizens on notice that they need to file U.S. tax returns
OTTAWA – The final thrust of Canada-U.S.. tax treaty negotiations is triggering fears among bankers on this side of the border that they will be dragged into helping out on an American hunt for tax cheats — and passing along information about Canadians to U.S. tax authorities.
The U.S. Internal Revenue Service has put dual U.S.-Canadian citizens on notice that they need to file U.S. tax returns — whether or not they have paid in Canada — or face stiff penalties.
Intense lobbying by Ottawa achieved some relief on a related issue involving tax obligations of dual citizens, with the IRS issuing a guidance that those owing no U.S. tax would not be subject to penalties for failing to report in past years.
The two sides appear headed toward a compromise on the issue affecting banks and their U.S. clients as well.
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Canadians wary about closer U.S. security ties
By macleans.ca - Tuesday, August 30, 2011 at 11:17 AM - 6 Comments
Report suggests many ambivalent about law enforcement integration
Canadians are deeply ambivalent about proposed plans to better integrate North American security, a new report suggests. Nearly half of those consulted about a possible perimeter security agreement between the U.S. and Canada are against further integrating law enforcement in the two countries, the report says. The federal government consulted more than a 1,000 individuals, business groups and other organizations for the report, Foreign Affairs Minister John Baird said in Toronto on Monday. The two governments are working toward a wide-ranging agreement that could lead to closer cooperation in security, trade and infrastructure.
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Border announcement to focus on trade
By Luiza Ch. Savage - Friday, February 4, 2011 at 2:30 PM - 0 Comments
The border announcement today will include the creation of a Council to review regulations with an eye to streamlining and helping facilitate trade. I’m told this is in part an extension of Obama’s domestic initiative to review regulations. He talked about it in the State of the Union.
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Harper and Obama to discuss border security at Friday meeting
By macleans.ca - Wednesday, February 2, 2011 at 1:23 PM - 14 Comments
New agreement could transform 49th parallel
Prime Minister Stephen Harper will meet with U.S. President Barack Obama in Washington on Friday to discuss the Canada-U.S. border. The discussion will focus on increasing intelligence sharing and harmonizing trade regulations. A prospective new border agreement is expected to ease the passage of goods and services between the two countries while tightening security to deter terrorism. Critics of the new agreement say that such measures will infringe upon Canadian sovereignty while making travel for Canadians more difficult. Liberal leader Michael Ignatieff has accused Harper of hiding the details of his meeting from Canadians and demanded that he “bring this deal back to the House for an open debate before he surrenders Canadian sovereignty.”
