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re: 77,000 different foreign banks in 70 countries reporting to IRS now
Posted on 6/5/14 at 5:18 pm to Tiger n Miami AU83
Posted on 6/5/14 at 5:18 pm to Tiger n Miami AU83
quote:Hundreds of thousands?
Since the IRS started going after these accounts, hundreds of thousands have been disclosed and billions in taxes and penalties paid.
From your link:
quote:Those are totals.
40,000 account holders have participated in the IRS program
Maybe the issue is definition.
In your numbers, are you counting US citizens working overseas, while maintaining a normal bank account there? Something on order of 7 million Americans work abroad in that case. So "Hundreds of Thousands" of >$50K accounts might apply. "Hundreds of Thousands" of fraudulent accounts? Different issue.
My presumption though was we were addressing US citizens living in the US while maintaining overseas accounts. That would be the IRS antenna raiser. Obviously a person who happens to be a US citizen residing, working, and paying taxes abroad is a wholly different issue.
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