Finally! An acknowledgement that #FATCA goes after Canadian citizens

Strange but true. Vern Krishna begins his article in the National Post with the following sentence:

As of July 1, the United States will tighten the tax noose around the necks of Canadian citizens living in Canada and anyone else whom it considers to be “U.S. persons” for tax purposes.

Mr, Krishna acknowledges that:

1. Canadian citizens are “U.S. persons”; and

2. There are “U.S. persons” who are NOT Canadian citizens.

Finally, a lawyer and legal academic who has  got it right (only kidding). You can read the complete article here. Mr. Krishna acknowledges that FATCA is quite “intrusive” for dual citizens by accident.

This article is interesting because an analysis by Mr. Krishna (he is/was a legal academic) is about the best one can hope for. That said, if he were my student, I would give him a grade of C for this article.




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