President Obama and Prime Minister Harper took the U.S.-Canada relationship to the next level today as they announced the Action Plans for Beyond the Border: A Shared Vision for Perimeter Security and Economic Competitiveness.

The United States and Canada have long been the best of neighbors, friends, partners, and allies.  Based on foundations of mutual reliance and respect we have built prosperity at home while standing shoulder-to-shoulder defending our shared values around the world.  We have long understood that if we work together we are stronger, more prosperous, and more competitive.

The American Chamber of Commerce in Canada (AmCham) is pleased to annouce the launch of new bi-weekly newsletter. This electronic publication will include:

WASHINGTON, D.C. (DECEMBER 5, 2011)
BY MICHAEL COHN, ACCOUNTING TODAY

The Internal Revenue Service has reportedly backed away from plans to heavily penalize U.S. citizens and dual citizens living in Canada who may not have paid all of their taxes.

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The plans to assess heavy penalties against taxpayers had been causing consternation north of the border. They stemmed from the Foreign Account Tax Compliance Act, or FATCA, which was included last year as part of the HIRE Act (see FATCA Isn't Just for Fat Cats).