Ottawa - Gord Brown, Member of Parliament for Leeds-Grenville, today announced that government efforts to assist US residents living in Canada have paid off with a common sense solution proposed by the IRS to the US Tax and FBAR Filing Requirements.

This situation has been the cause of great anxiety for many dual-citizen Canadians, explained Brown and we share their concerns and have raised them directly with the US government.

“We told the US government that the vast majority of Canadians targeted were honest, hard-working and law-abiding individuals and they listened.  We're happy with recent developments, it is a victory for Canadians and a testament to our positive working relationship with our American neighbours,” he says.

We continue to encourage them to consult with a qualified tax advisor with experience in U.S. taxation, he adds.

Here is the link for the new information from the IRS: http://www.irs.gov/newsroom/article/0,,id=250788,00.html