U.S. issues final tax anti-evasion rules, enforcement ahead

Comments (4)
fromthecenter wrote:

OH OH… Their going after Mitt!!!

Jan 17, 2013 9:29pm EST  --  Report as abuse
CitizenAbroad wrote:

Hezbollah should be thanking the IRS for preparing this list of Americans living in Lebanon, Israel and elsewhere in the Middle East. Once stolen from a bank or one of the Middle Eastern government, it will take the guess work out of identifying Americans for hostage-taking and extortion purposes. Fine work US government and IRS!

Jan 18, 2013 2:13am EST  --  Report as abuse
CitizenAbroad wrote:

“Some of the agreements include a reciprocal information-sharing provision, under which the IRS will deliver taxpayer information to a foreign government about its citizens living in the United States.”

Since all countries in the world, except the US and Eritrea, practice residence-based income taxation, I don’t believe foreign governments would be interested in the interest and dividend income of its citizens living in the United States. On the other hand, they would be interested in US interest and dividend income information of RESIDENTS of their countries, irrespective of the citizenship.

Jan 18, 2013 2:38am EST  --  Report as abuse
CitizenAbroad wrote:

Sorry to bother you again but …

1) The FATCA “final regulations” are not in the Federal Register (FR) as of January 17, 2013. They must be published in the FR to be considered final. This means that they are not final!

2) According to the Treasury website, only Denmark, Mexico and the UK have signed FATCA IGAs.

Reuters may wish to update this story to improve accuracy.

Jan 18, 2013 3:09am EST  --  Report as abuse
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