No escape: FATCA/IRS have foreign banks snitching on expats

#1
Rasputin_Vol

Rasputin_Vol

"Slava Ukraina"
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Aug 14, 2007
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#1
It doesn't matter if you live in the US or not, the US gov't wants to know your business. The Foreign Account Tax Compliance Act and the IRS will hunt down your bank accounts in Aruba, Panama, Singapore, Egypt... wherever... just to squeeze that last dime out of you.

Double trouble: US expats feel the burden of FATCA - swissinfo.ch


For Americans, this really is turning into a Prison Planet.
 
#2
#2
They should start with the billions owed by federal employees
 
#3
#3
But illegal aliens come here,work under the table, send money back to their countries and still can receive government benefits. We won't address that issue. Awesome.
 
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#4
#4
tumscalcium said:
But illegal aliens come here,work under the table, send money back to their countries and still can receive government benefits. We won't address that issue. Awesome.
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Maybe that is part of our foreign aid program. One never knows with all the crazy shat going on with our government.
 
#5
#5
tumscalcium said:
But illegal aliens come here, are illegally hired by US companies, work under the table, while their employers pay no payroll taxes for them, send money back to their countries and still can receive government benefits. We won't address that issue. Awesome.
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helped your post....
 
#10
#10
tumscalcium said:
But illegal aliens come here,work under the table, send money back to their countries and still can receive government benefits. We won't address that issue. Awesome.
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For the most part illegal aliens' taking government benefits is exaggerated a bit. It's kind of hard to draw social security and similar benefits without a SSN.
 
#14
#14
FATCA in reverse?

canada%20bad%20news_0.jpg
 
#16
#16
FLVOL_79 said:
What?
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Federal employees owe $3.3B in back taxes

Federal employees owe a total of $3.3 billion in back taxes to the federal government, according to Internal Revenue Service data released Thursday.

In all, 318,462 federal employees owed back taxes as of last Sept. 30 — an increase of 2.6% from the previous year. That puts the average tax bill at $10,391, according to IRS data obtained by USA TODAY under the Freedom of Information Act.
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#18
#18
FLVOL_79 said:
Ah hahaha! I would be willing to bet that most of those fools are up in the DC areas or other various head quarter type places for other agencies.

Odd that the worst offenders are the civil rights and disability people..................:blink:
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You're absolutely right about who it is. It's not the regular folk.
 
#20
#20
This was posted at Americans Overseas on Nov 9th after Trump won the election.

Roughly, 8 million Americans living Overseas are faced each year with their US tax filing obligation. America is the only country in the world that obligates its citizens to file regardless of where they live or work. Trump’s predecessor, Obama, introduced FATCA, which forced every financial institution to hand over lists of US clients. This law was designed to catch tax cheaters hiding money. Unfortunately, it made life for Americans more difficult from a tax and financial perspective, because banks started refusing Americans’ service.

What will Donald Trump do in the wake of FATCA to make the lives of Americans living overseas easier? Unfortunately, he made no clear statements on what he plans to do specifically about FATCA and citizen-based taxation. However, he has been very consistently stating that he will lower taxes.

This means that US citizens (and green card holders) living overseas will still need to file their annual returns, but the chance that they will actually owe tax to the US will be further minimalized.
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https://americansoverseas.org/en/donald-trump-fatca-and-citizen-based-taxation/
 
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