I'm back after a few days of stress and worry about what in the world we are to do. I was hoping my Canadian citizenship would be granted in the spring. I received notice to have fingerprints done and took care of that yesterday. I then contacted CIC to ask when they would be in this area and they said it would be MAY or JUNE! That will make it a year and a half since I applied. I tried to call today to find out if there is any way I can get it done sooner at another location but their lines are jammed and they disconnect. I would feel much better if I had the Canadian government behind me so that I could join in on some of the group protests that are happening. Right now I can't do anything.
Am I right to assume that we should we go ahead and sell the little villa we purchased in Florida? We have not even had it a year but I read where the IRS intends to tax any foreigner (like my husband) for worldly income if he is there more than 122(?) days and will expect a cut of their worldly assets if they were to die. If I do not disclose with FBAR they will probably seize that property. What is this going to do to the snowbird revenue that the US has enjoyed over the years? This doesn't just involve Canadians, they are talking about anybody who has purchased a home anywhere in the US for vacation, etc.
I know I am showing my ignorance here, but I just found out about this and I am still trying to get over the shock of my home country trying to bully so many seniors out of their retirement funds. Do you think the government of Canada is prepared to take on that financial burden when we can't afford to take care of ourselves because the USA stolen all of our money?
Nobody I have talked to in the states has heard of FBAR and they all say that the USA wouldn't do this. I don't know what to do, so I have just been spinning my wheels. Ignorance is NOT bliss!