More FUSET’s (Frequently Used Search Engine Terms)

25 Jul

irs is a burden on my forien spouse

Believe me, the IRS is a burden, on some of us more and on some of us less, but on each and every one of us. So as they say, misery loves company. Join the gang.

fbar eliminate after introduction of fatca

What? FBAR is alive and well even though FATCA was enacted. In fact, FATCA is merely an instrument to allow the IRS to find those not filing FBAR. They would have otherwise been under the radar and undetectable. If, as, and when all the financial institutions of the world are reporting, directly or indirectly, to the IRS, all those that haven’t filed their FBAR will be found out and will be in deep trouble.

how does the us treat its citizens abroad

In a word, shitty (excuse my use of the vernacular). They know no limits of privacy invasion and show no consideration of personal circumstances. They are, in my opinion, automatons, whose sole aim is to put the squeeze on expats income and savings.

privatbank good for us citizens to hide money

In your dreams only. There is, in reality, no place to, as you put it, “hide money” other than in your mattress. Fess up and pay what you legally must.

are indian bank going to comply with fatca law

My friend, everybody will eventually comply with FATCA or suffer the consequences. They will turn over every stone to find where you are hiding your money, so now’s the time to tell them how much and where it is. And if you have come by it legally and paid income taxes on your earnings like all of us law abiding citizens, you have nothing to fear/hide.

do i have to translate every document for the irs

Plain and simple, YES. In my ongoing audit, in an effort to ease the time and financial burden of translating the whole kit and kaboodle, I tried to translate one of the 12 monthly receipts of business expenses as an example of all of them. All 12 were disallowed and they imposed corrections to my 1040 resulting in higher self-employed taxes and then added a fine. That’s not all. What they then added was interest charges. And all that adds up.

do irs check fbar for irs audit

Only they know and they ain’t talkin’.

Countries that do not report u.s. bank accounts to irs

As of now, no country reports to the IRS. But watch out. It’s like some rogue state (I won’t say who, but they speak Persian there) is actively involved in enriching uranium, the USTreasury is actively recruiting other countries to join a network that allows all countries to inform on you to the IRS. It is starting, as I reported, with the six and will extend to the whole world.

Has bank leumi tel aviv released the names of us citizens offshore accounts

To the public/world? NO To the IRS, your guess is as good as mine. If they haven’t already, FATCA ensures that they will shortly.

American living abroad that has not paid taxes, is partner at risk?

If you mean by “partner,” spouse, the answer is definitely yes. If you mean business partner, I would guess only if its the partnership that has not paid taxes. If partner owes you money, he/she may not be able to pay it back.

Is there an irs representative in tel aviv

Unlike France, Germany, and I don’t know where else, NO, NO, a thousand times, NO. Nobody to look to for assistance. Nobody who can read Hebrew. And thus they expect YOU to provide “certified” translations of each and every document that you use to substantiate your business expenses. As I have said before, I think that this is UNFAIR.

Can the IRS hunt me in Belize

Baby, they can hunt you anywhere in the world. You just cannot hide, so don’t even try.

Who authorized FATCA

Simple. It was the US Congress that snuck it in as part of a piece of legislation that was supposed to encourage more jobs and improve the economy.

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