14.2.14

Len Glass was recently interviewed on CKNW’s The World Today with Jon McComb discussing the implementation of the Foreign Account Tax Compliance Act (FATCA). FATCA is meant to address tax evasion by American citizens living abroad, but is raising questions about privacy implications as it requires financial institutions in other countries to tell the IRS about US citizens’ offshore accounts with more than $50,000. On the show, Len discussed  the Act and examined how it would impact Canadian financial institutions as well as US citizens living in Canada.