Those interested in the saga of Carl Zwerner – the 86 year old Florida resident – who was assessed multiple year willful FBAR penalties, AFTER having made a traditional voluntary disclosure at a time before OVDP was available – need to read this post by Charles Rettig. Mr. Rettig does a nice job of laying out the chronology. Leaving aside the specifics (I encourage you to read his post) he summarizes the main point as follows:
Government of Canada to phase out cheques in favour of Direct Deposit to bank accounts
With direct deposit, the Government of Canada deposits payments automatically into your bank account.
It’s a way to receive your payments without any postal delay. Not only will you receive your payments on time and be able to access them quickly, but you can also be sure they will never be lost, stolen, or damaged.
By April 2016, the Government of Canada will be phasing out cheques in favour of direct deposit for all government payments. You will therefore need to sign up for direct deposit. Given the benefits, why wait?
Sign up for direct deposit now! It’s convenient, secure and reliable.
How to apply
Select the program that applies to you:
Direct deposit for Employment Insurance
Direct deposit for Canada Pension Plan (including Post-Retirement Benefit) and Old Age Security
Direct deposit for apprenticeship grants
Direct deposit for Canada Child Tax Benefit and for Universal Child Care Benefit
Direct deposit for GST/HST credit
Direct deposit for other Government of Canada programs and services
We live in FATCAesque times. FATCA is many things.
FATCA is the end of financial and human privacy.
FATCA is the means by which the U.S., by using it’s Trojan Horse soldiers (U.S. citizens abroad) intends to confiscate a portion of the GDP of other countries.
FATCA is, for lawyers and accountants the “gift that just keeps on giving”.
FATCA is responsible for the creation of new industries.
In short, FATCA is “a small step for man, but a large step for mankind”!