Serbinski Accounting Firms

But tsanaha it sounds like your case probably not similar to the average NFNTO Canadamerican, perhaps, in terms of magnitude, though for sure your approach of dividing it into two peices and trying to address the confusion through just going in very instructive to all of us.

There could be hundreds ...

RESP and TFSA also..

TFSA and RESP same thing...

Is there another wrinkle here pointing to the 5% expat exemption NOT applying to most Canada-US duals who are never-filed-no-tax-owing (NFNTO):?

FAQ 52(3) states:
" .....This exception only applies if the income tax returns filed with the foreign tax authority included the offshore-related ...

Is there another wrinkle here pointing to the 5% expat exemption NOT applying to most Canada-US duals who are never-filed-no-tax-owing (NFNTO):?

FAQ 52(3) states:
" .....This exception only applies if the income tax returns filed with the foreign tax authority included the offshore-related taxable ...

There could be hundreds of thousands of Canadamericans (Globe and Mail said up to 1 million) in this situation, so given that very few of them have heard of any of this stuff at this point, how can OVDI 2011, which closes in 5 weeks, be the last program for dealing with them?

What is actually ...

Of course there isn't. However with Canada presumably the IRS does have a source for **reliable** income information - CRA (Revenue Canada) - because Canada tracks income, e.g. T-slips very closely, at least for the typical Canadian case. That may not be true for some other countries. So having a ...

One reason why it's seen to be fair is because OVDI gives the taxpayer immunity from criminal prosecution - hence one could argue that there isn't a 0% option for that reason.

What is missing is a non-criminal disclosure process - in other words I don't get immunity from criminal prosecution ...

I know this has been addressed before (e.g. oldgringo) but wanted to know more details on the basis/argument for QD. Is the idea that if you file for first time and are assessed as zero owing and your 9981 backfile (RRSP setup) accepted you then at that point meet the situation in FAQ 17, file the ...

I'm a dual citizen since childhood (Canadian resident and citizen continuously for the past several decades though born in the US); always paid Canadian income taxes, fully up to date with Canadian tax, but never filed US anything. As far as I know I don't owe any US tax. What should I do?