re: 77,000 different foreign banks in 70 countries reporting to IRS now

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I work for a law firm dummy. You have no idea what I do.

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For now, I'll just say NC is way way off in his thinking and doesn't understand much of anything going on in this area.

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Let me clear up my thinking & understanding for you.

I understand you work for lawyers who, based on your response to BBONDS, you apparently hold in low regard.

I understand you're reticent to engage with any specificity regarding the OP, despite the subject falling in an area you'd claim as expertise. Strange indeed.

I understand you apparently view American accounts yet to be identified in 77,000 banks in 70 countries as a BFD -- presumably numerous and voluminous.

However, I understand you've not quantitated the number of accounts that this new reach will identify, nor the impact it will have on receipts.

I understand your reference to "stashed money in foreign banks" may have intended something other than what it implied, but oddly when given opportunity to clarify, you didn't.

I understand some of your language to be fairly sophomoric and inexpert for an accountant to be tossing around a poliboard. But it is the same language the IRS tosses into talking points.

My guess, and it's only a guess, is that newly discovered undisclosed accounts among those 77,000 banks in 70 countries will total <5000 on top of those previously identified.

You seem to be under a different impression. Why?