All Overseas Bank Accounts More Vulnerable to IRS Scrutiny

DuaneBidoux

(1000+ posts) Send PM | Profile | Ignore

Fri Aug-21-09 12:32 PM
Original message

All Overseas Bank Accounts More Vulnerable to IRS Scrutiny

Source: CNBC

Are the days of secret overseas bank accounts over?

This week's agreement by Swiss bank UBS to name US account holders is being seen as a watershed, leaving many wealthy Americans with foreign accounts scrambling to figure out what to do.

The agreement with UBS breaks the Swiss tradition of banking secrecy and is expected to force thousands of the bank's clients in America to disclose financial details to the Internal Revenue Service.

Read more: http://www.cnbc.com/id/32508538

"...leaving many wealthy Americans with foreign accounts scrambling to figure out what to do."

What to do? How about paying the taxes you owe?

Printer Friendly | Permalink | | Top

Warpy

(1000+ posts) Send PM | Profile | Ignore

Fri Aug-21-09 12:34 PM
Response to Original message

1. Yes! It's finally time to close the conduits to the point

that if these pigs ever want to access their money, they'll find a tax man waiting with them for the check.

I still think the names need to be published. It would be hilarious to see all those patriotic GOPs wrapped in the flag and hiding behind the cross exposed as cheats who have refused to support the country they've been preying on.

Printer Friendly | Permalink | | Top

The Magistrate

(1000+ posts) Send PM | Profile | Ignore

Fri Aug-21-09 12:47 PM
Response to Reply #1

2. Hear Hear, Sir! The Names Should Be Published

Printer Friendly | Permalink | | Top

defendandprotect

(1000+ posts) Send PM | Profile | Ignore

Fri Aug-21-09 01:07 PM
Response to Original message

3. Secret bank accounts are a threat to all of us -- to freedom and democracy . . .

Just as secret societies are --

Printer Friendly | Permalink | | Top

tomm2thumbs

(1000+ posts) Send PM | Profile | Ignore

Fri Aug-21-09 01:08 PM
Response to Original message

4. I need to invent a mattress with a bank vault feature

shhhh, don't steal the idea

Printer Friendly | Permalink | | Top

Turbineguy

(1000+ posts) Send PM | Profile | Ignore

Fri Aug-21-09 06:31 PM
Response to Reply #4

5. I'm not interested in stealing your idea.

Your mattress however may be another matter.

Printer Friendly | Permalink | | Top

DU AdBot (1000+ posts)

Fri Apr 19th 2024, 12:12 PM
Response to Original message

Advertisements [?]

Top

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.