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Thursday, October 13, 2011

Americans In New Brunswick Worried About Being Targeted By The I-R-S

Americans who are living in this province are alarmed at word the Internal Revenue Service in the U.S. is after them for taxes.

 Betty Fay Simmons-Ott of H and R Block tells CHSJ News U.S. citizens are taxed under residency and citizenship so Americans living here still have to file a tax return in the States.

She says a letter is sent to the American tax authorities telling them you didn't realise this was a filing requirement and that has been satisfactory so far with no fines or penalities imposed.

Her advice is to get the paperwork filed as soon as you can because beginning in 2013 and 2014 banking information will be passed back and forth.