Monthly Archives: February 2016

The Truth about the CRA Voluntary Disclosure Program (VDP) that no one wants you to know

Much more benign that the IRS Voluntary disclosures – OVDP, etc.

inTAXicating

Before you waste time and money paying a “Tax Solution” company to walk you through the CRA’s Voluntary Disclosure Program (VDP), you need to read this post and learn the facts they don’t want you to know…

In order to “qualify” for the Voluntary Disclosure Program, there are some important facts which must be taken into consideration first;

  1. The disclosure must be voluntary, and by voluntary, the CRA means that the business or taxpayer must not be aware of or have knowledge of an audit, investigation or other enforcement action set to be conducted by the CRA, or initiated by the CRA, with respect to the information being disclosed.
  2. The disclosure must be complete, meaning that all information must be disclosed and all the outstanding years must be filed in this application.
  3. The disclosure must involve the application of a penalty, such as, but not limited to, Late Filing Penalties…

View original post 887 more words

Dear Michelle Obama

“Consider also sovereignty of foreign nations, something I can’t claim the US has ever respected. The US does not allow foreign countries to step in and tax its businesses and its citizens, its economic contributors. America’s practice of taxing its citizens is basically what Mr. Trump accuses Mexico of doing: sending its citizens to America to generate dollars to send home. It is a despicable concept which the Democratic Party has rightly laughed at, yet this is what you do with CBT, FBAR, and FATCA. You tax monies earned abroad by your citizens. You tax capital gains on private homes in the UK; you apply SS and Obamacare taxes on mom & pop businesses operating overseas; you tax lottery winnings considered tax free economy boosters in foreign lands; your actions pirate money from foreign economies and you pretend it is okay because we victims are American. We are not the only victims. Our families, our communities, and our host nations all suffer from your syphoning. You steal funds, jobs, and debt. You are the biggest tax cheater of them all, and the fact you justify it based on patriotism is disgusting to me and almost all the 8.9 million citizens abroad.”

Café Moi

I received the following email today. I get them all the time but rarely read them. When I do, I feel ill: my heart races, my fists knot, and I turn red. Sometimes I even curse at the senders. Today I noticed the bold line in the footer, so I wrote Michelle Obama a letter. First the email in question:

John —

At this very moment, some of the first votes of this election are being cast in New Hampshire. And before you know it, I’ll be asking you to go to the polls in the fall.

And even though you won’t see Barack’s name on your ballot this time, this election is just as important as those we’ve been through before. When we vote for Democrats in November, we’ll be voting to protect everything we’ve worked so hard for these past few years and to keep making the change…

View original post 887 more words