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re: 77,000 different foreign banks in 70 countries reporting to IRS now
Posted on 6/5/14 at 8:46 am to SDVTiger
Posted on 6/5/14 at 8:46 am to SDVTiger
Here is the little bit I understand, I work and have a resident visa in a foriegn country. The laws here require that I am paid in country and now no bank wants to deal with me for what is basically a clearing account. My income is already reported to the IRS by my employer. No bank wants to deal with this over the miniscule profits to be made off expats accounts.Our idiotic IRS is creating problems just because they can and do not care who they screw. Now you two carry on with your pissing contest
1
Posted on 6/5/14 at 9:12 am to cave canem
quote:
No bank wants to deal with this over the miniscule profits to be made off expats accounts.
I see this every day. And it isn't just expats. Try being a dual citizen that was born in the U.S. but has spent your life living in another country that is now getting grief from a foreign bank due to your U.S. citizenship because they don't want the reporting obligations.
This post was edited on 6/5/14 at 9:14 am
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