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Canada Revenue Agency (CRA) Has Shared Over 1.6 Million Documents With The IRS To Date



Phil Hogan - Canada- US Cross Border Tax Issues

The Canada Revenue Agency (CRA) continues to supply information to the IRS on U.S. Citizen owned investment and bank accounts. According to CBC, CRA has already shared over 1.6 million Canadian banking records with the IRS. Even with the significant sharing of documentation we are still not seeing an increased level of new clients being contacted by the IRS.

You would think that if the IRS has such a large of amount of banking information from United States citizens abroad they would be enforcing compliance by reaching out to these Americans. This might be something that has yet to happen and may be on the horizon.

Have a cross border tax question? Contact Phil Hogan.

Phil Hogan

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One thought on “Canada Revenue Agency (CRA) Has Shared Over 1.6 Million Documents With The IRS To Date

  1. PierreD says:

    Your salivating at the prospect of profiting from the misery of others is disgusting. Extraterritorial taxation is an abomination.

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