IRS Offers Some Relief for Expats and Dual Citizens

The Internal Revenue Service has provided information to clarify the tax responsibilities of U.S. citizens and dual citizens living abroad in response to concerns from Canadians and expatriates from other countries about penalties that might be levied on their unpaid taxes and undeclared bank accounts.

The IRS posted the information on its Web site Friday after meetings between the U.S. Ambassador to Canada and Canadian officials to address worries from Americans living abroad that they would be subject to heavy penalties they had never been aware of until recently (see IRS to Ease Tax Penalties for Americans Living in Canada).

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