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re: 77,000 different foreign banks in 70 countries reporting to IRS now
Posted on 6/4/14 at 6:12 pm to NC_Tigah
Posted on 6/4/14 at 6:12 pm to NC_Tigah
I wish these banks would all do a "information blizzard" and send data / paperwork for every tiny aspect of the business.
"Here is 1 million Terabytes of information (times 77,000). all of the info you require is in there. Now, GFY. We have complied in excess of what you 'requested'. "
"Here is 1 million Terabytes of information (times 77,000). all of the info you require is in there. Now, GFY. We have complied in excess of what you 'requested'. "
This post was edited on 6/4/14 at 6:13 pm
1
Posted on 6/4/14 at 6:15 pm to BlackHelicopterPilot
That has been done to an extent, but at the individual level.
It will happen at the foreign entity level soon, but the reporting is actually pretty well designed to get at certain information.
But really, maybe more importantly, it is something of a scare tactic that is working MUCH better than the gov expected. Exponentially better really.
It will happen at the foreign entity level soon, but the reporting is actually pretty well designed to get at certain information.
But really, maybe more importantly, it is something of a scare tactic that is working MUCH better than the gov expected. Exponentially better really.
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