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Started By
Message
re: 77,000 different foreign banks in 70 countries reporting to IRS now
Posted on 6/4/14 at 4:34 pm to Tiger n Miami AU83
Posted on 6/4/14 at 4:34 pm to Tiger n Miami AU83
quote:Pfffssssssttt . . . . here's a secret:
And people that have stashed money in foreign banks and not reported it are probably not going to be pleased.
People who "stash their money" in any bank, do not pay taxes on it.
Why?
Because it is not earning money. There is no income.
2
Posted on 6/4/14 at 4:46 pm to NC_Tigah
Ummm....
No idea what you are trying to say, but ok den.
No idea what you are trying to say, but ok den.
Posted on 6/5/14 at 11:59 am to NC_Tigah
quote:I would think that the reporting requirements are intended for people to have a) legitimately received the money and b) to have paid taxes on it already due to it being subject to US taxes.
Pfffssssssttt . . . . here's a secret:
People who "stash their money" in any bank, do not pay taxes on it.
Why?
Because it is not earning money. There is no income.
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